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Bitcoin Whale Awakens After 12 Years, Sparks Market Buzz
A Bitcoin whale dormant for 12 years has suddenly transferred 1,000 BTC worth roughly $116 million, just hours before the U.S. Federal Reserve’s closely watched interest rate decision. The rare move marks the first activity from the address since 2013, according to blockchain tracker Lookonchain.
Whale Awakens After 12 Years
The wallet, identified as 1NzHXRDizgEGaJZfBG46k66QXpRzDrtpZo, originally acquired its 1,000 BTC at an average of $847 each, paying just $847,000 in total. At current prices, the stash is now worth 137 times more.
Blockchain data shows the whale executed four transactions between late Tuesday and early Wednesday, dispersing coins across four new addresses. Transfers included 99 BTC ($11.5M), 500 BTC ($58.1M), and 400 BTC ($46.5M). Despite the massive moves, transaction fees were negligible—just 470 satoshis (~$0.55) for the largest transfers and under $2.20 for the smaller one.
Fed Rate Cut Looms Large
The timing has drawn attention as markets brace for the Federal Open Market Committee (FOMC) decision. According to the CME FedWatch tool, traders are pricing in a 96% chance of a 25 basis point cut, up from 85% a month earlier.
Analysts remain split on the Fed’s path. Bank of America forecasts two cuts this year, while Goldman Sachs sees three. Crypto commentator The Count of Monte Crypto predicts an 80% chance of three cuts, potentially in September, October, and December, and suggested this could even ignite an altcoin season later this year.
Traders Brace for Volatility
Despite optimism, many traders remain cautious. Data from CoinAnk shows 57% of Bitcoin traders are short, while Coinglass reported over 100,000 liquidations worth $214M in the last 24 hours, with long positions taking the biggest hit.
Bitcoin itself has been consolidating, bouncing from $111,000 support last week to a weekend high of $116,800, briefly topping $117,200 before retreating to around $116,000. Meanwhile, open interest in Bitcoin futures has dropped by more than $2B in five days, signaling traders are scaling back exposure ahead of the Fed’s announcement.
