They prefer to keep their logs in USDT – The course of Bitcoin (BTC) is more than ever volatile and febrilestuck in a tidy Between a low around $35,000and a resistance towards $45,000. A situation of painful hesitation for speculators, who clearly prefer to keep their reserves in stablecoins waiting for the crypto market to take a clear directionupwards or downwards.
Whales Lighten Bitcoin Positions
Since the outbreak of the conflict between theUkraine and the Russiathe course of Bitcoin has already “offered” (or rather, subjected) us two variations rapids up closeten thousand dollars for one BTC.
The first, the February 24when the price suddenly plunged after Vladimir Putin’s statement announcing Russian military intervention. The second variation, on the riseoccurred between February 28 and March 1. Probably in too big overstatement of crypto’s potential to help Russia at get around economic sanctions from NATO/EU members.
According to a recent analyst report on chain of Sanimentthe number of whales possessing between 100 and 10,000 BTC (between 3.9 and 390 million dollars) experienced a noticeable drop the day Russian troops entered Ukraine. His wealthy bitcoin owners then stagnatedin what seems to be a real phase of indecision.
>> No need to go around in circles to earn interest with your USDT on Kucoin (affiliate link). <<
Nothing better than stablecoins to… stabilize your positions!
the American dollar seems to be doing very well since the start of the crisis in Ukraine, unlike the collapsed russian ruble. And it is precisely to the US currency that are indexed stablecoins as’USDT from Tether.
According to data from Santiment, whales between 10,000 and 10 million USDT had added for $1.06 billion of this stablecoin to their wallets at the end of February. Or an increase of 7%.
But according to analysts at Santiment it could also indicate that these wealthy speculators are ready to jump at the chance.
But according to Santiment analysts, it could also indicate that these wealthy speculators are ready to jump on a great opportunity. Either on cryptocurrencies sold at prices that they will clearly judge dumpedor in case of bullish recovery strongly directional (crossing the resistance of 45,000 dollars).
“Bitcoin is not the only asset that indicates how the entire market might behave next. (…) sharks and whales have a lot more USDT, ready to buy cryptocurrencies, compared to a month ago. »
Added to this wait-and-see feverishness on the markets is uncertainty on the severity of latest regulations on bitcoin and crypto-assets. In Europe, for example, the new MiCA Law will be submitted to the vote of parliamentarians on March 14, 2022.
