Data: More than $1 billion of USDT was withdrawn from exchanges yesterday, the largest outflow since May

IntoTheBlock posted on the X platform that more than $1 billion of USDT was withdrawn from exchanges yesterday, the largest outflow of Tether since May.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 bullish signals, 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.