Price
No major changes in the fundamental background during the latest day, as well as in the price behavior. BTCUSD stays in the narrow lateral channel inside 6450 – 6680 zone. Too-long lull will weaken supporting levels and lower the price eventually. Current situation needs to see any fundamental feedback to change the faze, otherwise, the price will continue gradual lowering to more significant support zone 5750 - 6250.
Today forecast
Today most probable trading diapason: 6450 - 6800. In case of crossing the 6500 - high downward risk.
Latest news
No major changes in the fundamental background during the latest day, as well as in the price behavior. BTCUSD stays in the narrow lateral channel inside 6450 – 6680 zone. Too-long lull will weaken supporting levels and lower the price eventually. Current situation needs to see any fundamental feedback to change the faze, otherwise, the price will continue gradual lowering to more significant support zone 5750 - 6250.
Today forecast
Today most probable trading diapason: 6450 - 6800. In case of crossing the 6500 - high downward risk.
Latest news
- How Tether is doing
Recall that a week ago there was an anomalous growth of Bitcoin on Bitfinex, against the background of which the USDT price dropped to $ 0.92.
Researchers at CoinMetrics.io note that over the past two weeks, the capitalization of the most popular stablecoin Tether USD (USDT) has decreased by $ 730 million.
“Stablecoin update: Tether has suffered about 730m in outflows from its peak; competitors have added about 120m to their combined supply. So a considerable amount of USDT outflows were not into other stablecoins” - @coinmetrics
Over the same time, the capitalization of stablecoins competing with USDT increased by a total of 120 million. This suggests that a significant part of the capital was probably directed not to “new stable coins”, but to buying other cryptocurrencies, including Bitcoin.
Founder of Onchain Capital and presenter of Cryptotrader on CNBC Ran Neu Ner notes that currently the largest USDT holders are Tether Treasury (about 30%), the largest in terms of trading volume, Binance, and an unknown address.
“Biggest holders of Tether today are treasury,Binance and Huobi. Bitfinex has a very small amount. This means that;
1.Bitfinex has lost a lot of customers.
2.Bitfinex customers have sold Tether for crypto.
3.@cz_binance is certainly in top of the situation.
Source: @TheElementGrp” - @cryptomanran
Also, a significant portion of USDT coins is concentrated on the Huobi, Poloniex and Bittrex exchanges. Bitfinex, exchange associated with Tether, goes fourth in this list.
