Data: On the day when BTC fell to $90,000, USDT net inflow into CEX reached $2.72 billion
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Foresight News reported, according to CoinDesk, that according to IntoTheBlock data, the price of Bitcoin fell to around $91,000 a week ago, and the net inflow of USDT to centralized exchanges (CEX) reached $2.72 billion on that day, the third highest in history.
IntoTheBlock analysis said that this influx of funds may be driven by multiple factors, including traders depositing additional margin to avoid liquidation, as well as large-scale "buy the dip" behavior, mainly focused on BTC. The current Bitcoin price has stabilized in the range of $95,000 to $100,000.
BTC
5.08%
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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