A $100M Facelift
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Whale watching, anyone? Massive USDT inflows, amounting to $2.27 billion, were transferred to major exchanges in the last two days — the largest since mid-March. The timeframe of the inflows overlaps with a minor pullback in BTC price, suggesting that buyers were likely rushing in to buy the dip. The buying power of stablecoins, which is racing into the underbought region, offers a similar narrative. With funding rates in check, will the USDT inflows mark the overture of another round of rally?