While Bitcoin investors were focused on the spot Bitcoin ETF decision from the SEC, BTC experienced a sharp decline with today's negative news.
At this point, Lookonchain said that a whale sent 182 million USDT to leading cryptocurrency exchanges Coinbase and Kraken.
Lookonchain also stated that this whale received 2 billion USDT from the Tether treasury since October 20 and deposited these USDTs to Binance.
Lookonchain also added a chart comparing the BTC price with the times when the whale transferred USDT to exchanges.
Looking at the chart, it can be seen that there was a significant increase in the Bitcoin price after the whale's USDT transfers to the exchanges.
“This giant whale took 182 million USDT from the Tether Treasury again today and deposited it in the exchanges.
Whale has received a total of 2 billion USDT from the Tether Treasury since October 20 and deposited it to Binance!”
At this point, the question comes to mind: Will the BTC price increase after the whale's last USDT transfer?
Although BTC experienced a sharp decline during the day, it tends to recover again. Especially as long positions worth more than $500 million were liquidated, some experts say that this is a correction before the sharp rise.
As a result, do not make your investment decisions based on a single data or signal. These data are helpful data that have a margin of error and have never been proven to be 100% accurate.
*This is not investment advice.
