An unknown Bitcoin whale purchased over $680 million in BTC just a day before the highly anticipated Federal Reserve interest rate decision today on September 17. While market players are expecting a 25-basis-point rate cut, this massive transaction signals a significant bullish bet.
Onchain data from Arkham confirms that the acquisition took place on September 16, between 15:47 to 17:02 UTC. This Bitcoin purchase is one of the largest single-day accumulation this year.
The move follows a period of consolidation for BTC, which has been hovering near the $115,000 level while traders were waiting for a clear signal from the U.S. central bank. At the time of publishing, BTC was trading near $116,160—showing a modest gain of 0.65% in the past 24 hours, as per CoinMarketCap data.
Macroeconomic catalyst for Bitcoin
The timing of the purchase is critical as the Fed is expected to cut rates by 25-basis-points and it will be a key macroeconomic catalyst for risk assets like Bitcoin. In finance markets, lower interest rates reduce the opportunity cost of holding non-yielding assets, making traditional investments like bonds less attractive. This can incentivize large-scale capital to flow into more speculative and high-growth sectors, including cryptocurrencies.
Furthermore, a rate cut often signals a shift toward a more accommodative monetary policy, which can weaken the U.S. dollar. For many investors, Bitcoin acts as a hedge against a devaluing currency, and a weaker dollar can translate into a stronger Bitcoin price.
Market dynamics and institutional sentiment
Analysts widely expect the Federal Open Market Committee (FOMC) to announce a 25-basis-point reduction today, marking the first rate cut of the year. A bet for this event on Polymarket, a leading prediction market platform, sees 90% chances for the decision.
While some fear a “buy the rumor, sell the news” event, where a confirmed rate cut leads to a short-term pullback, many believe the broader macro environment is a tailwind for Bitcoin.