This Might Be The Reason Behind Bitcoin’s Rise

Behind the recent rally in Bitcoin (BTC) and cryptocurrencies, there may be a mysterious fund that draws attention with its $ 1.6 billion transfers.

On-chain data platform lookonchain first bitcoin He shared information about the reason for the recent rise in the crypto money market. The findings presented by the platform show that various funds and institutions have been around the crypto market since February 10. 1.6 billion dollars investment said to have done. This hefty investment conclusion was reached as a result of analysis of USDC stablecoin regulations and withdrawals.

Although it is not known who the persons or institutions making the purchases belong to, analysts are aware of these transactions. to institutional investors He suggested that it might belong. In the post, before the Bitcoin and Ethereum rises, the fund in question regularly similar behavior It was underlined that it exhibited signal was implied.

Concentrating on a few wallet moves, analysts said, “0x3356from the Circle of a mysterious backdrop labeled ” 953.6 million USDC He realized that he had withdrawn and transferred it to the stock markets. In addition, there is another “continuing purchases during the slight retracement in prices recently”.mysterious background“, via Circle since February 10 155 million USDC withdrawn and transferred to different exchanges. In addition, this mysterious fund is available from Circle via a separate address. 397 million USDC pulled and February 10It has also been noted that since .

Analysts say that USDC assets invested in exchanges shows the trend from the dollar to cryptocurrencies and with these assets, especially Bitcoin purchases have been made suggested. Another of the unidentified movements is February 10-15 took place between $143 million It was the transfer of USDC to exchanges.

On the other hand, Lookonchain suggested on February 9 that there may be “another” mysterious fund that transferred a total of $ 10 billion to cryptocurrency exchanges before the Ethereum (ETH) rises.


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