Big money inflows into exchanges minutes before $ 20k in bitcoin
It was determined that there was a large amount of stable cryptocurrency entry into the cryptocurrency exchanges before the price of Bitcoin surpassed the level of 20 thousand dollars.
Stable cryptocurrencies are supported in a 1:1 ratio with dollars, euros or other currencies. These cryptocurrencies are widely used for trading or trading on exchanges. While the USDT is a stable cryptocurrency indexed to the US Dollar, there are also different cryptocurrencies supported by other similar currencies.
According to cryptocurrency data platform Cryptoquant, about 100-130 users from around the world started depositing money on exchanges every 10 Seconds, 7 minutes before Bitcoin exceeded 20 thousand dollars today. Shortly after these entries, Bitcoin surpassed 20 thousand dollars to 20,880 dollars. In a Normal course, money inflows were visible in the range of 10-20 within 10 seconds. The chart below clearly shows the jump and reaction to the Bitcoin price.
The largest cryptocurrency by market capitalization finds buyers at $ 20,700 as of TSI 21.40, when the news was published. Bitcoin’s market capitalization stands at $ 384 billion.