Today we saw a huge spike surging on BTC vs USD. But the actual pump may have occurred due to a dump of USDT on Kraken. Bitfinex is the highest volume exchange of BTCUSD... but it actually does not trade USD, but USDT!
So everything works fine as long 1USD=1USDT... but right now, that is not the case.
So everything works fine as long 1USD=1USDT... but right now, that is not the case.
Note
USDT price normalized on Kraken. Now Bitfinex is plain expensive. Judging by the volume, some one got a great deal on USDT. Total volume bought at lower price is clearly higher than volume sold.Note
USDT is still oscillating. The difference matches that of Bitfinex and USD trading exchanges (~5%)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.