CryptoQuant: ‘Big Investors Take Action on Bitcoin!’

In the crypto money industry, eyes are turned to tomorrow. The decision of the US Federal Reserve (FED) to increase interest rates will directly affect the price movements of all digital assets, especially the leading cryptocurrency Bitcoin (BTC). As of yesterday, it was seen that there were sharp decreases in Bitcoin. After a 30-day accumulation period, BTC, which lost the bottom level of $ 29,500, is currently trading at $ 29,200. As of tomorrow, volatile movements are expected in Bitcoin and altcoins. The statements of Fed chairman Jerome Powell will directly affect crypto assets.

According to CryptoQuant, large crypto investors have started making BTC transfers to the futures market. As of tomorrow, the Fed’s interest rate decision and President Powell’s statements, combined with the positions that large investors will open in futures, will increase the volatility in crypto assets. CryptoQuant analyst Vadym Za said the following about the interest of big investors in futures:

Average deposits on futures exchanges increased by 240% from 0.4 BTC to 1.4 BTC. This shows that large wallet holders are taking action and sending their Bitcoins mostly to exchanges that offer futures services. It should also be noted that the increase in this average deposit amount starts before the decrease.