Data: Over $1 billion worth of USDT was withdrawn from the exchange yesterday, marking the largest outflow since May

Odaily Planet Daily News: IntoTheBlock announced on X platform that over $1 billion worth of USDT was withdrawn from the exchange yesterday, marking the largest outflow of Tether since May. Usually, deposits are seen as bullish signals, indicating that users are ready to purchase assets, while withdrawals have more complex interpretations. Users may transfer funds to DeFi in search of returns outside of the exchange. However, after multiple withdrawals exceeding $1 billion in recent times, the price of Bitcoin has started to decline, suggesting that investors may adopt a safe haven strategy by transferring funds to safer environments such as cold wallets to cope with market volatility.