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Tether's Massive Bitcoin Withdrawal Sparks Supply Concerns and Market Speculation

Tether's $BTC Withdrawal Sparks Supply Concerns

Dario Cesaro avatar
Written by Dario Cesaro
Updated over 2 weeks ago

Tether, the issuer of the world's largest stablecoin, has withdrawn approximately $779 million worth of Bitcoin from the Bitfinex exchange. This significant move involves 8,889 BTC, further reducing the available supply on exchanges and potentially influencing market dynamics. The withdrawal adds to a growing trend of large entities moving Bitcoin off trading platforms, a phenomenon that could tighten overall supply and increase price sensitivity.

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