Lookonchain: Bitcoin fell below the $60,000 mark due to institutions stopping stablecoin purchases
According to on-chain analysis platform Lookonchain, Bitcoin fell below the $60,000 mark today, possibly due to institutions halting their stablecoin purchases. Institutions stopped receiving USDT from Tether Treasury two days ago and transferred it to exchanges. Previously, on August 9, monitoring showed that since the market crash on August 5, 1.3 billion USDT has been transferred from Tether Treasury to exchanges.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MONUSDT now launched for futures trading and trading bots
Stock Futures Rush (phase 7): Trade popular stock futures and share $280,000 in equivalent tokenized shares. Each user can get up to $8000 TSLA.
Bitget Incentive Program: Win up to 1,300 USDT Per Week
Crypto Loan Carnival round 26: Borrow USDT, USDC to enjoy an APR discount of up to 40%
Trending news
MoreCrypto prices
More
