Whale brings $138 million in
On-chain monitoring on October 13 showed that a Bitcoin whale deposited 138 million USDC into Binance. The address still holds 200 million USDC and 61.68 million USDT, worth a combined total of approximately $262 million.
Stablecoins sent to an exchange are ammunition ready to be deployed. $262 million is enough to sweep through several layers of sell orders on the spot market. The fact that this money is sitting in the account untouched is, in itself, a vote of confidence in support below.
Do you think this $138 million will first drive the price into a deep dip before buying back in, or sweep straight upward? Those of you with positions, share your entry price.
$BTC $ETH $USDC
On-chain monitoring on October 13 showed that a Bitcoin whale deposited 138 million USDC into Binance. The address still holds 200 million USDC and 61.68 million USDT, worth a combined total of approximately $262 million.
Stablecoins sent to an exchange are ammunition ready to be deployed. $262 million is enough to sweep through several layers of sell orders on the spot market. The fact that this money is sitting in the account untouched is, in itself, a vote of confidence in support below.
Do you think this $138 million will first drive the price into a deep dip before buying back in, or sweep straight upward? Those of you with positions, share your entry price.
$BTC $ETH $USDC