With the opening of Asian markets after the US Federal Reserve (FED) announced its interest rate decision, a large amount of Bitcoin (BTC) outflow was detected from Huobi, one of the largest cryptocurrency exchanges in Asia. Whale reported on social media posts on September 22 that 86,485 Bitcoin exits of 1.7 billion dollars in total from Huobi earlier in the day.
A few hours after the interest rate decision, a total of 86,485 Bitcoins were moved during the transfer process, which started during the active hours of the Asian market and continued until its closing. Among the transfers shared by Whale on social media, 43,000 Bitcoins with a total value of 860 million dollars, which seem to have gone from Huobi to Binance, drew attention.
Bitcoins, which were originally thought to have been withdrawn to a cold wallet, caused a great deal of speculation in the market. However, in his post on the subject, Wu Blockchain stated that Huobi explained that “transactions originating from users’ normal cash flow are mislabeled by bots and the transfers do not belong to individual parties.” Some users on social media did not believe Huobi's statements, claiming that the company was protecting its customers.
Cryptocurrencies try to compensate for the negative impact of the Fed
The total market capitalization of cryptocurrencies fell by 7.5% to $ 880 billion after rising to $ 950 billion before the Fed's interest rate decision announcement. The purchases, which started from the lowest levels last seen in July towards the close yesterday, continued throughout the day. The dollar index, on the other hand, decreased by 0.6% at the level of 111.8 points, returning to the 110 point band. In addition to this indicator, US futures indices were moving slightly positive before the market open. On the other hand, the recent fluctuation in the crypto markets did not cause a significant change in the market perception. Cryptocurrency fear and risk appetite index declined to 22 points, down 1 point compared to yesterday, and remained in the extreme fear zone.