CryptoQuant, an on-chain data provider, has raised doubts about Tether’s Bitcoin holdings. Their analysis shows discrepancies that differ from Tether’s official report. They also suggest the presence of multiple Bitcoin wallets held by Tether. The challenges in defining Bitcoin whales are highlighted, as misclassifying wallets as whales can lead to inaccurate interpretations. The movement of Bitcoins within different brackets and a surge in exchange withdrawals were observed between May and July. However, the recent movement primarily involves wallets associated with the Robinhood app rather than widespread whale activity. The article concludes by mentioning the influx of 118,300 BTC coins into the Bc1 wallet over three months.

AI Sentiment: Neutral