Just before the Federal Reserve was set to reveal its latest decision on interest rates, a significant transaction occurred involving the transfer of 650 BTC, valued at approximately $75.6 million, from Coinbase Prime to a newly created wallet that had no previous activity, according to Whale Alert.
Data from the blockchain indicates that these coins were withdrawn directly from a Coinbase hot wallet and are now stored in this new address, which currently has no other assets.
This transaction coincides with expectations that Jerome Powell and the Fed will implement rate cuts for the first time in several months. The market is anticipating a reduction of 25 basis points, while some financial institutions are predicting an even larger cut that could lower borrowing costs to between 3.50% and 3.75% by year-end.
🚨 🚨 🚨 🚨 A total of 650 #BTC (valued at $75,618,633) has been transferred from #Coinbase to an unknown wallet https://t.co/XNfxsiSEQ2
— Whale Alert (@whale_alert) September 17, 2025
In light of this news, Bitcoin’s price has risen as traders anticipate the Fed’s announcement; it is nearing $117,000 after hovering below $112,000 for much of early September.
The price of gold reached an all-time high close to $3,700 per ounce before experiencing some profit-taking; this reflects investors’ shift towards hedging strategies as bond yields adjust in anticipation of rate cuts. Currently, two-year yields stand around 3.56%, while ten-year yields are approximately at 4.06%.
Bullish or Bearish?
The withdrawal from Coinbase isn’t merely random coin movement; extracting such a substantial amount—$75 million worth of BTC—from an exchange typically signals intentions to hold rather than sell—a move often seen as bullish by traders.
Nonetheless, given its scale and timing just ahead of the Fed’s decision-making process raises questions; large transfers like this might be part of a strategic maneuver designed either to instill confidence or disrupt order books.
With liquidity remaining low across various platforms today’s actions can significantly sway short-term market sentiment making today’s signals from the Fed particularly crucial.