Bitcoin Movement Sparks Speculation

Bitcoin (BTC) experienced a massive transfer of $292 million in just minutes, drawing attention within the crypto market. This significant transaction volume has led to speculations surrounding institutional activity or large whale movements.

On-chain data indicates that these funds were transferred between unknown wallets, which suggests a notable accumulation or strategic asset redistribution.

According to Whale Alert, a blockchain data tracker, 3,402 BTC valued at $292,322,254 was moved from one unknown wallet to another.

> 🚨 3,402 #BTC (292,322,254 USD) transferred from unknown wallet to unknown wallet Source
> — Whale Alert (@whale_alert) March 20, 2025

This transaction might be related to an OTC (over-the-counter) trade occurring outside traditional exchanges. Nonetheless, the precise motivation behind the move remains unclear.

At the time of writing, Bitcoin had gained 3% in the last 24 hours, reaching $85,947. Along with Bitcoin, Ethereum and other leading cryptocurrencies rose as markets reacted to Fed Chair Jerome Powell’s dovish outlook on the U.S. economy.

Bitcoin Rebounds

Bitcoin surpassed $87,000 on Wednesday, increasing almost 6% as investors responded to the Federal Reserve’s signals regarding more relaxed financial conditions and heightened expectations for a liquidity-driven rally.

The Federal Reserve maintained interest rates on Wednesday, marking an extended pause in decreases amidst economic uncertainty. This decision was predicted, as the benchmark rate remained at 4.25% to 4.50%, after beginning rate cuts in Q4 of the previous year.

In post-announcement comments, Fed Chair Jerome Powell noted that the central bank’s latest inflation forecast was slightly higher than previously expected in December.

Bitcoin continued to gain in the early Thursday session, peaking at $87,470 before retreating to around $85,000, where it currently trades. This rise has positioned BTC above the daily SMA 200 at $84,509, and attention will be on how Bitcoin maintains this crucial level in the coming days.