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Market situation: Bitcoin deposit from whales to exchanges on the eve of interest rate increase and the announcement of a new inflation rate in America

وضعیت بازار: واریز بیت کوین از نهنگ‌ها به صرافی‌ها در آستانه افزایش نرخ بهره و اعلام نرخ تورم جدید در آمریکا

On the eve of the meeting of the Central Bank of America to decide on the re-increase of the bank interest rate in this country and the announcement of the inflation rate of the previous month of the United States, a significant amount of Bitcoin has been deposited from the whales’ account to the exchanges. Meanwhile, the price has maintained its position well above $20,000 so far.

To Report CoinDesk, yesterday and after the publication of the US government report, which showed that inflation in this country grew at a slower pace than expected, the price of Bitcoin also increased.

The importance of this report is that it can show that the efforts of the Central Bank of America to lower the growth rate of the price of goods and services in this country have been successful, and this organization can stop implementing these policies sooner instead of extending its contractionary monetary policies; An approach whose continuation or intensification is considered a negative factor for the price of risky assets, from stocks to Bitcoin and other digital currencies.

Bitcoin’s return to above $20,000 last week made the market sentiment more bullish than before. Bitcoin has experienced a growth of 5.6% since the beginning of this week (last Monday) and if the weekly candle closes with the same amount of growth, we will witness the best weekly performance of Bitcoin in the last month and a half. But the main test for Bitcoin will be in the middle of this week after the meeting of the Central Bank of America to decide whether to increase the bank interest rate again in this country.

Most of the traders expect the Central Bank of America to decide to increase the bank interest rate by 0.75 percentage points in this country, like in the last few periods. However, the most important point related to this meeting can be hints from the words of Jerome Powell, the head of the US Federal Reserve Bank, which is related to the next meeting of this organization in December.

Using on-chain analysis tools can also help investors adopt appropriate trading approaches. For example, over the past week, large holders or whales have deposited significant amounts of Bitcoin into exchanges.

Market situation: Bitcoin deposit from whales to exchanges on the eve of interest rate increase and the announcement of a new inflation rate in America
Bitcoin deposit chart from Nahangahs account to exchanges.

For investors who are optimistic about the future of the market, this can be considered a negative sign; Because the purpose of the holders of depositing their assets to centralized exchanges is often to sell them.

On the other hand, this flow may be only a preventive measure on the eve of the publication of the American October inflation rate on November 10. Let’s also add that according to the graph above, it seems that the deposit of whales to exchanges has been stabilized since October 25 (november 3).

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