Major Bitcoin withdrawal from Bitfinex prior to FOMC meeting 
Quick Take
With an outflow realized price of less than $11,000 for Bitcoin, Bitfinex fits the definition of ‘smart money.’ It indicates an astute ability to acquire Bitcoin at a comparatively lower price, emphasizing strategic gameplay in a volatile cryptocurrency market.
Furthermore, an analysis of their notable transactions uncovers a substantial Bitcoin withdrawal, one of the largest this year, just an hour before the Federal Open Market Committee’s (FOMC) meeting.
This whale-driven withdrawal, amounting to approximately $100M, throws light on the calculated moves often made in anticipation of significant financial events and potential market shifts. The correlation between the timing of these large-scale transactions and important economic announcements underscores the influential role of macroeconomic variables within the crypto market.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitfinex
Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.
Featured Data Partner
