Bitcoin Drops to $94K as $1B BTC Flows Into Exchanges

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The US Treasury Secretary Scott Bessent hinted that a deal between the two could be signed before Thanksgiving.

After a day and a half of calmness and apparent price stability, bitcoin has slipped once again on Sunday afternoon despite some bullish news coming on the US-China trade deal front.

What’s more worrisome in this situation is the behavior of BTC investors who have deposited roughly $1 billion worth of the asset to crypto exchanges in the past three days alone.

Such large transfers are generally followed by sell-offs, since most investors tend to keep their BTC stored away from exchanges unless they want to immediately dispose of it. Consequently, it’s safe to assume that the immediate selling pressure has only intensified and could be among the reasons behind the market-wide crash.


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