Bitcoin Price Crashes Below $70,000 as Tether Liquidates BTC Holdings, Analysts Weigh In
By
Scott Matherson
Summary
Bitcoin price crashed from above $70,000, with crypto pundit Nobler attributing the decline to Tether liquidating some of its BTC holdings from its reserve wallet for the first time. Analyst Chiefy provided insights on what to expect next for BTC. The article covers on-chain data and market analysis surrounding the price drop.
Source
bskyBitcoin Price Crashes Below $70,000 as Tether Liquidates BTC Holdings, Analysts Weigh Innewsbtc.comKey quotes
· 4 pulledCrypto pundit Nobler cited why the leading crypto was crashing, while analyst Chiefy revealed what to expect next from BTC.
Nobler revealed that the USDT issuer Tether was liquidating some of its BTC holdings, which was contributing to the Bitcoin price crash.
He noted that this was the first time they had sold directly from their BTC reserve wallet.
The pundit added that things were not looking good for crypto.
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