Whales Dive Into Crypto Market After FED Announcement: $135 Million in Bitcoin and $840 Million in Ethereum Purchased!
Following the recent activity in Bitcoin and altcoins, whales have been making moves in the market. Some are buying, while others are selling.
Bitcoin experienced significant fluctuations following the release of CPI data from the USA and the FED’s interest rate decision, reaching close to $70,000 after positive CPI data. However, after the FED announcement and statements from Chairman Jerome Powell, BTC dropped back down to $67,000.
Whales Seize the Opportunity to Buy Bitcoin (BTC)!
Amidst the volatile movements in Bitcoin, whales saw an opportunity and started purchasing BTC after the FED revealed the amount. According to Lookonchain, two new whale wallets acquired 2,000 BTC valued at $135 million from Binance.
Ethereum (ETH) Purchases Surge!
Taking advantage of the market dip, whales also made significant purchases in Ethereum. As per analyst Ali Martinez, whales bought over 240,000 ETH worth $840 million. These large purchases are believed to be linked to the anticipation of a rise in ETH price following the SEC’s approval of spot Ethereum ETFs and their upcoming trading in June-July.
Major Whale Sells Off in 5 Altcoins!
Lastly, a giant altcoin whale made substantial sales, capitalizing on the surge post-positive CPI data. The whale sold off altcoins worth $8.38 million, including Arbitrum (ARB), AAVE, Polygon (MATIC), XVS, and BLUR. This smart whale previously profited $11.4 million from PEPE and UNI investments.
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