SpaceX’s Bitcoin Transfers Spark Market Uncertainty

Over the past ten days, Elon Musk’s SpaceX has executed three significant Bitcoin transfers, surprising cryptocurrency observers. Blockchain analytics firm Arkham Intelligence reports that SpaceX transferred 281 BTC (around $31.3 million) to a new wallet on October 30th. This move followed Bitcoin’s price dip below $110,000 due to Federal Reserve Chair Jerome Powell’s cautious remarks about potential rate cuts. SpaceX’s recent activity has raised questions regarding their intentions and market strategy.