On-chain tracker Whale Alert recorded a transfer of exactly 500 million USDT from Binance’s hot wallet to a secure address belonging to Tether Treasury. This massive movement coincided with Bitcoin’s technical rebound, as the cryptocurrency reached $64,964 on Bitstamp while attempting to break above the psychological $65,000 level. Despite the significant USDT withdrawal, no panic was observed in the spot market, with most analysts attributing the transfer to a routine technical cross-chain swap from the ERC-20 Ethereum network to faster and cheaper blockchain networks. Bitcoin found strong support at $64,102 (Point of Control), and the RSI momentum indicator moved out of oversold territory into the neutral 40-60 range.
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