How Bitcoin is impacted as USDT holdings increase

The top 10 Tether wallets held tokens worth an eye-popping $15.23 billion, as of press time. Though market indicators pointed to a few days of attrition, Bitcoin [BTC] has actually been consistently increasing in value, hovering above the $37,000 mark for the past few weeks and hitting the $38,000 milestone very recently. If the latest data is anything to go by, it appears that inadequate trend won’t be stopping anytime soon; with the biggies of the crypto market expressing their confidence in Bitcoin (BTC).

As per CoinMarketCap’s latest stats, its appraisal pumped by a 4.5% increase within the past week, while the figure was 3.3% in the last 24 hours alone. At the moment of writing, it was trading for an immense $38,225.01, concomitant with a humongous market capitalization over $747 billion. Recently, AMBCrypto reported about Bitcoin holders hovering steadily around their allocations, as the coin took a sudden leap in its momentum.

Analyzing patriarchs, Santiment noticed a distinctive association between hedge flagship entities, jumbo deposits, and popular on-chain BTC metrics; over and above what sentiments that shimmer from powerful conditional selling.

Robert Wilson author
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