Tether: Transfers 204.3 BTC to Bitfinex

Tether moved 204.3 BTC ($14.36 million) into Bitfinex three hours ago from its reserve address that now holds 96,936 BTC ($6.72 billion), the fifth-largest wallet. The coins were acquired since 2023 using 15 percent of company profits at an average price of $51,312, leaving $1.75 billion in unrealized gains.

Price action on the 4-hour chart shows BTC testing the lower Bollinger Band support at $69,869 while the RSI sits at 19.67 in oversold territory and the MACD prints a deep negative -1,050.9 death cross below the EMA50 resistance at $73,797. Institutional desks note that repeated quarterly withdrawals from Bitfinex often precede measured selling rather than immediate liquidation, yet the current confluence of lower-band exhaustion and extreme oversold momentum suggests any near-term bounce would likely stall at the $73,797 EMA50 before further downside pressure develops.