It has led to a lot of profit-taking on the part of investors that want to avoid incurring more losses in the long term.
Bitcoin slid down below $40,000 at the start of the week and brought with it a wave of long liquidations.
In total, there was $658.2 million worth of inflows and outflows went as high as $729.2 million.
The amount of Tether that flowed into exchanges compared to that which flowed out also supports investors are continuing the accumulation trend.
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