Data: More than $1 billion of USDT was withdrawn from exchanges yesterday, the largest outflow since May

Odaily News IntoTheBlock posted on the X platform that more than $1 billion of USDT was withdrawn from exchanges yesterday, the largest outflow of Tether since May. Typically, deposits are seen as a bullish signal, indicating that users are ready to buy assets, while withdrawals have a more complex interpretation. Users may move funds to DeFi to seek returns outside of exchanges. However, after multiple withdrawals of more than $1 billion recently, the price of Bitcoin began to fall, suggesting that investors may adopt a risk-averse strategy and move funds to safer environments such as cold wallets to cope with market fluctuations.