Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Fawpac2 on January 26, 2021, 11:09:25 AM
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Bitcoin faced a massive setback on the 21st of January after the asset dropped below $29,000 for the first time since 3rd January. At press time, Bitcoin had recovered back above $33,000 but there was one particular narrative that was picking up more steam in the current bullish landscape.
Leading with the facts, stablecoin inflows to exchanges during a Bitcoin dump was evident in 2021. According to a recent report by Santiment, the timeline of every dip has been highlighted in the chart below, and USDT registered massive exchange inflows during the same time.
Source Link (https://ambcrypto.com/what-role-did-tether-play-in-bitcoins-recovery/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)