Looking at blockchain data, I see an interesting picture: major early Bitcoin holders have started actively selling off their positions. Over the past few hours, two experienced whales sold more than 1,650 BTC, which is about $117 million. One of them, by the way, previously withdrew 11,000 BTC, and now added another 650. The second OG holder with a reserve of 5,000 BTC released a full 1,000 coins. It seems the veterans are beginning to panic.

The reason is clear – the Fed disappointed the bulls yesterday. The central bank kept the rate at 3.5–3.75%, but the main point in their forecasts: they indicated only one rate cut this year. A month ago, the market expected two or three cuts; now the probability has dropped from 62% to 80% for just one. Inflation remains stubborn, energy costs are rising, and the Fed is clearly not rushing to ease policy.

The cryptocurrency market immediately reacted with a decline. Bitcoin fell nearly 1% to $70,600, although it has now recovered to $72,340. Ether, Solana, XRP, and other altcoins also lost several percent. The CoinDesk 20 index dropped 3%. When the central bank talks about a tough policy for a long time, risk assets always suffer first. So, expectations for quick liquidity easing have dissipated. It’s interesting whether whales will continue selling or if this was already a panic reaction.