Fast Take
- Following the announcement of the SEC suing Binance, we noticed very related behaviors to when the CFTC introduced they had been suing Binance.
- Kaiko’s analysis reveals the Bitcoin worth transfer between the CFTC and SEC lawsuit announcement within the chart under. Bitcoin recovered from the CFTC swimsuit in a shorter period of time than the present drawdown.
- Yesterday, over 20,000 Bitcoin had been bought from short-term holders; virtually as many had been bought throughout the SVB (Silicon Valley Financial institution) collapse, which noticed 23,000 Bitcoin bought.
- After accounting for inflows and outflows, roughly 12,000 Bitcoin left exchanges yesterday, primarily pushed by whales with transactions as giant as $1 million to $10 million.
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