Blockchain analytics provider Glassnode reported a “strong negative correlation” between Bitcoin’s and USDt’s activity over the last two years.
In a Wednesday X post, Glassnode shared a comparison between Bitcoin’s (BTC) price and net flows of USDt (USDT) to exchanges starting in December 2023. According to the analysis, net outflows of USDT from exchanges coincided with increases in the price of BTC.
“During euphoric phases, USDT typically flows out at –$100M to –$200M/day as…
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