US Treasury drains $120 billion from market a day before Fed decision
- —US Treasury balances rose by $120 billion in a day — from $871 billion to $991 billion
- —The 14% daily increase was one of the largest in history
- —The Fed raised rates for the first time in three years, and the S&P 500 fell only 0.45%
- —Whales moved BTC to exchanges but did not sell
Why it matters: The Treasury's sharp liquidity withdrawal ahead of the FOMC could have increased pressure on the crypto market, but the reaction was weak — the market had already priced in a hawkish scenario.
Source: The Cryptonomist (IT)