Reserve Dollar

Cryptocurrency

Bitcoin

Reserve

<ul>
 <li>The number of whale wallets holding more than 100 BTC has hit a 17-month high.</li>
 <li>Bitcoin, might see substantial gains in the event of an interest rate decrease by the Fed.</li>
</ul>
After a sharp 10% drop from $65,000 earlier this week, <a href="https://thenewscrypto.com/why-bitcoin-bulls-struggle-to-maintain-their-momentum/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has found solid support around $58,000. As a result, the Bitcoin whales have resurfaced and are actively purchasing Bitcoin as it drops in price.
Santiment reports that, with many important crypto events about to take place in September, the number of whale wallets holding more than 100 BTC has hit a 17-month high.
<h3 class="wp-block-heading" id="h-whales-in-action">Whales in Action</h3>
As to the Santiment data, Bitcoin whale accumulation has persisted, with a steady climb in holdings. Despite the recent market disappointments and volatility over the previous month. The number of Bitcoin whale wallets, defined as those containing 100 Bitcoins or more, has increased by 283 in the last month. Thus, bringing the total to 16,120. This is the most significant increase in the number of such big investors during the last 17 months.
Cryptocurrency options are being used by professional traders to maximize profits while minimizing risks. Since investors anticipate that risk markets, including Bitcoin, might see substantial gains. Especially, in the event of an interest rate decrease by the Federal Reserve (<a href="https://thenewscrypto.com/can-upcoming-fed-rate-cuts-spark-a-crypto-market-recovery/" target="_blank" rel="noopener noreferrer nofollow">Fed</a>).
In the face of both the possibility of a Bitcoin price gain and the dread of forced liquidations caused by sudden market fluctuations, traders are trying to figure out how to improve their strategy. It is difficult to forecast market reactions on September 18th, despite the possible positive trigger, since some investors have already priced in a 0.50 percent interest rate drop.
Positive macroeconomic prospects for risk markets may have been overshadowed by rising worries inside the crypto industry, according to the price action. Many believe that Bitcoin’s lackluster performance is due, in part, to the fact that Democratic candidate <a href="https://www.whitehouse.gov/administration/vice-president-harris/" target="_blank" rel="noopener noreferrer nofollow">Kamala Harris</a> has shown little willingness to back the sector.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/hong-kongs-sfc-grants-license-to-hkdaex-despite-deadline/" target="_blank" rel="noopener noreferrer nofollow">Hong Kong’s SFC Grants License to HKDAEx Despite Deadline</a>

Bitcoin Whales Resurface Ahead of Key Events in September

Table of Contents

TheNewsCrypto

Other articles published on Aug 31, 2024

NFT Sales Sink 40% In August – Will NFTs Bounce Back In September 2024?

Solana Memecoin Vote Trump to Explode 17,000% Before Exchange Listing, As SHIB and DOGE Plummet

Multiple Satoshi-Era Bitcoin Wallets Activated After More Than a Decade of Dormancy

Tiger Research Releases Special Report on the Korean Web3 Market in Partnership with Korea Blockc...

The Latest from MoonTaurus, SunWukong and MoonBag: $400K Presale Surge, $5M Funding Round, and Up...

Dogecoin and Shiba Inu investors flock to a promising new altcoin

Join our free newsletter for daily crypto updates!