Sudden Movement on the Eve of Rate Cuts! Two Giants Simultaneously Transfer Nearly $300 Million in BTC to Exchanges, What Signal Is This?

The on-chain monitoring platform Lookonchain recently detected a subtle operation—just hours before the Federal Reserve was about to announce a rate cut, SpaceX and BlackRock nearly simultaneously completed two astonishing Bitcoin transfers.

SpaceX sent 1021 BTC (approximately $94.48 million) to an associated address of Coinbase Prime, while BlackRock was even more aggressive, depositing 2196 BTC (worth $203 million). Moving nearly $300 million worth of chips at such a sensitive moment certainly caused a market frenzy.

It’s important to note that BTC prices have been wildly fluctuating between $89,000 and $94,000, with intense volatility over the past 24 hours. When institutions make big moves during such times, it’s hard not to associate them with market signals.

On social media, the debate quickly split into two camps. The bearish camp sees this as a clear sell signal—after all, the price has already dropped up to 28% from October’s high. Moving these funds to exchanges now seems like an attempt to cash out.

The bullish camp, however, disagrees. They point out that BlackRock’s spot ETF saw huge net inflows on the same day, and these transfers could simply be routine custody adjustments or rebalancing, not necessarily a sign of panic selling.

Interestingly, SpaceX has been making transfers close to $100 million almost weekly over the past two months. Some speculate this could be related to the Starlink business spin-off or upcoming IPO plans, adding complexity to the situation.

Additionally, some analysts warn that the current speculative positions in the market are much lower than in summer, and the overall structure is actually more stable than it appears.

So, is this genuine selling or just a false alarm? No one can say for sure at the moment. The key will be whether these coins actually hit the market and create selling pressure, and how macroeconomic factors evolve next.

What’s certain is that before clear signals emerge, such large on-chain movements will continue to stir market sentiment. Everyone, keep your own rhythm.