As Bitcoin falls below the $60,000 level again, it is seen that the purchases of corporate companies, especially those who buy from the bottom and see the declines as an opportunity, have stopped for 2 days. According to the information shared by the on-chain tracking platform Lookonchain, USDTs withdrawn in large amounts from the Tether Treasury have stopped for the moment…

$2 billion flowed in 4 days

As it will be remembered, on 5 August, Bitcoin fell to 49 thousand dollars and many corporate firms, especially large companies such as Cumberland, withdrew hundreds of millions of dollars from the Tether Treasury. Most of the USDTs withdrawn were sent to exchanges such as Coinbase, Kraken, Binance and OKX. In 4 days, the figure sent to the exchanges by these institutions exceeded $2 billion.

During the week, only $1.3 billion USDT and $519 million USDC input was provided to the Binance exchange by major institutions.

The chart below, shared by Lookonchain, shows the path of some USDTs withdrawn from the Tether Treasury and transferred to exchanges last week. At the time of writing, Bitcoin is trading at $58,600.