While the US Federal Reserve’s (Fed) interest rate decision is eagerly awaited, many theories are put forward about how cryptocurrencies will move after the announcement. Investors, on the other hand, started to carry crypto money to the stock markets despite the surprise movements to come.
9 thousand BTC transferred to exchanges
According to the information provided by the on-chain data platform CryptoQuant, the amount of BTC entering the exchanges has increased significantly since the previous day. The number of BTC, which was 2 million 130 thousand, increased to 2 million 139 thousand in total. Nearly 3,000 of these were sent today alone.
Sleeper coins also entered
Especially the long-term “sleeper coins” entering the stock markets, in this sense, shows that long-term investors move their funds to the stock markets, taking into account the possibility of selling. This number, also known as the CDD rate, does not go unnoticed, making a sharp upward move on the day when Bitcoin reaches $ 23,800. The CDD rate is the number of coins in any given transaction multiplied by the number of days these coins have been “sleeping”. CDD stands for “Coin Days Destroyed”. This means that the number of days the coin sleeps is over.
USDT inflows are also increasing
On the other hand, like the biggest cryptocurrency Bitcoin, there are also increases in the entries of the largest stable coin USDT. Just today, 173 million USDT entered the stock markets and the figure increased from 7 billion 750 million USDT to 7 billion 873 million USDT. The Fed’s decision, which will be announced tonight at 22 CET, is considered certain to increase interest rates by 25 basis points. The institution increased interest rates by 50 basis points in December, after increasing 75 basis points for 4 consecutive times. The statements of Powell in his speech at 22.30 will be very important in terms of showing whether the Fed will stop raising interest rates.
![La Quotidienne des Nums followed by the Samsung Galaxy Unpacked 2023 conference [01/02/2023]](https://www.arover.net/wp-content/uploads/2023/02/La-Quotidienne-des-Nums-followed-by-the-Samsung-Galaxy-Unpacked-75x75.jpeg)
