Institutional Investor Sends $445 Million USDT To Exchanges, What Are They Buying?
Summary
Cumberland, an institutional investor, deposited $445 million USDT into exchanges to buy more crypto, mainly Bitcoin. They withdrew a significant amount of Bitcoin from various exchanges. Spot Bitcoin ETF issuers also bought a significant amount of Bitcoin. Retail investors showed confidence in Bitcoin and the broader crypto market during the recent market crash. Bitcoin is back above $60,000, and analysts believe it has found its bottom and is set for an uptrend. At the time of writing, Bitcoin is trading at around $60,900, up over 7% in the last 24 hours.
