Changpeng Zhao denied information about Binance buying more than 100,000 BTC on depreciation

Changpeng Zhao denied information about Binance buying more than 100,000 BTC on depreciation

Changpeng Zhao denied the information about the purchase of more than 100,000 BTC by Binance at a depreciation

CEO of the Binance exchange Changpeng Zhao said that the information about the purchase of 101,266 BTC by the exchange does not correspond reality.

Earlier, some media reported that the platform acquired a large batch of bitcoin against the backdrop of a fall in the price of the first cryptocurrency.

Zhao called the information «another wrong article» and stated that its authors do not understand the principle of operation of exchanges with cold wallets.

On June 18, the price of bitcoin fell below the psychological level of $20,000 and fell to $17,800.

At the time of writing, the first the cryptocurrency is trying to gain a foothold above $20,000.

Changpeng Zhao denied the information about the purchase of more than 100,000 BTC by Binance on a depreciation

BTC/USDT daily chart of the Binance exchange . Data: Trading View.

According to Coinglass, the total volume of liquidations in the futures market per day amounted to $300 million.

Since the beginning of the month, Bitcoin has fallen in price by 36%, Ethereum – by 44%. The fear and greed index rose one point to 9.

Recall that the President of El Salvador, Nayib Bukele, recommended bitcoin investors not to worry about the quotes of the first cryptocurrency. According to him, investments in digital gold will grow ā€œimmeasurablyā€ after the end of the bearish cycle.

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