90 million worth of USDT has just been spotted transferred from an unknown wallet address to Binance. Could this be a sign that a certain crypto whale is planning to buy the dip? Is this really a dip? Is it a good time to buy?
Bitcoin Price Prediction
As of the moment, there are countless speculations regarding the market as to whether or not the price of Bitcoin and other major cryptocurrencies will go up or down. There have been countless analysts saying that Bitcoin will reach $100,000 by the end of the year.
With this year coming to an end and 2022 coming really soon, this particular valuation seems a bit hard to reach especially due to the recent drop after Bitcoin hit its all-time-high at over $69K. Bitcoin then fell down to $59K and has garnered mixed opinions regarding the market.
90 Million USDT Transferred from Unknown to Binance
While some analysts say that the price of Bitcoin could still go up, others are saying that the correction has not yet finished its course. As per Whale Alert on Twitter, it was announced that 90,000,000 USDT or Tether was transferred from an unknown wallet to Binance.
Binance is a centralized trading platform that allows users to purchase cryptocurrency. The benefits of purchasing on Binance is that it has a low spread making it cheaper to purchase certain cryptocurrencies with popular stablecoin pairs like USDT or USDC.
Bitcoin Bullish or Bearish
As of the moment, while others believe that Bitcoin could still pump to $100K, there are also some people that believe that Bitcoin will go down to around $52K or around the $50K range. This, of course, is still speculation and the price of Bitcoin has yet to be proven.
It is also unknown as to whether the crypto whale that transferred 90 million USDT is going to purchase Bitcoin or maybe other altcoins. It is also not yet confirmed if the market is already in the altcoin season.
Who Transferred the 90 Million USDT?
For those that want to trace the whale’s movement, the TXID shows multiple USD Coin and Tether transactions. 19 days and 10 hours ago, there was another huge transaction made towards Binance 14.
The transaction saw the transfer of a whopping 5,999.9467021 worth of Ether or about 25 million USD. This is just one of the many crypto whales that are making huge movements as of the moment.
Other Crypto Whale Transactions
In order to get notifications regarding whale movements and the top 10 cryptocurrencies updated regularly, there is a Telegram account WhaleBot Alerts that provides regular updates regarding crypto whale transactions. Just recently, there was also another huge transaction that included Bitcoin.
Just recently 1000 BTC or over 59 million USD worth of Bitcoin was also transferred from Binance to an unknown wallet. As of the moment, the crypto fear and greed index indicates that the market is at a neutral status with a value of 54/100.
Source : Urian B., Tech Times