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Bitcoin Price Breaks Through $59,000 Amid Significant USDT Transfers

Scott Liu

Summary: The price of Bitcoin has surged past $59,000, with notable activity from institutional players driving the market. According to Lookonchain, Cumberland received an additional 73 million USDT from Tether Treasury, adding to the 445 million USDT received over the past 48 hours. These funds have been deposited into major exchanges such as Coinbase, Kraken, OKX, ...

The price of Bitcoin has surged past $59,000, with notable activity from institutional players driving the market. According to Lookonchain, Cumberland received an additional 73 million USDT from Tether Treasury, adding to the 445 million USDT received over the past 48 hours. These funds have been deposited into major exchanges such as Coinbase, Kraken, OKX, Binance, and Forwarder.

Earlier, Lookonchain reported that institutions are capitalizing on the market dip. In less than two days, Cumberland received 372 million USDT from Tether Treasury and transferred it to various exchanges. This significant movement of funds highlights the ongoing institutional interest in Bitcoin.

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