More than 1.07 billion USDCs flowed into CEX today, consistent with market bottom characteristics
2025-02-04 23:47:16
Cryptoquant crypto analyst maartuna release chart report hyper todaydesk3cryptocurrencydesktopCrypto News
Cryptoquant crypto analyst Maartunn released a chart report. Today, more than 1.07 billion USDC flowed into the centralized trading platform. Backtesting historical data, the increase of USDC in the trading platform usually has a positive impact on the price of Bitcoin. For example, after the FTX crash in December 2022, similar trades appeared every day, which eventually coincided with the bottom characteristics of the bear market. Today, around 5:00 pm, more than $1 billion of USDC flowed into the trading platform, and most ($875 million) flowed into Coinbase. Although the certainty is not 100%, it is very similar to the trading of large institutional players.
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