A few days ago, an important news was published regarding the crypto markets, and in particular an apparent correlation between Tether (USDT) and Bitcoin.
The news was reported by CryptoQuant on January 20th, with a graph showing on one side the decrease in the price of BTC, and on the other side the increase in USDT reserves on Bitfinex.
It should be noted that Bitfinex is effectively the primary market for USDT, as Tether issues and redeems tokens directly from that exchange, which belongs to the same iFinex group.
Crypto news: the increase in Tether deposits and its correlation with the price of Bitcoin
CryptoQuant reports that, with a remarkable twist in the crypto market, Bitfinex “whales” have decided to close their leveraged positions over the past week, thus triggering a significant increase in the USDT reserve on the platform.
They define this as a “strategic action” that has attracted attention by revealing interesting nuances about the behavior of the crypto
We współpracy z: https://en.cryptonomist.ch/2024/01/23/crypto-markets-important-news-about-tether-and-bitcoin/
