The smart money that shorted BTC and earned $5.16 million during the LUNA/UST crash has spent $12.01 million to purchase 2,879 XAUt.
According to Jinse Finance, on-chain analyst Ai Yi (@ai_9684xtpa) monitored that the smart money, which earned $5.16 million by shorting BTC during the LUNA/UST crash, spent $12.01 million in the past 8 hours to purchase 2,879 XAUt (Tether Gold) at an average price of $4,168. XAUt is pegged 1:1 to physical gold and has risen 15% in the past month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. existing home sales fall to a 16-year low as high interest rates and inflation continue to suppress housing demand
In October, U.S. existing home sales declined by 5.5% month-on-month, with the annualized rate dropping to 3.75 million units, the lowest since 2010. In the Western region, sales fell to the lowest level since record-keeping began in 1999. Mortgage rates above 7% and persistently high inflation are the main reasons for this downturn. Meanwhile, existing home inventory for sale in October rose to the peak level seen in the same period of 2019, and price momentum has significantly weakened. According to the NAR chief, once interest rates turn around, suppressed homebuying demand could erupt all at once.
Crypto prices
More
