Cryptoquant crypto analyst Maartunn released a chart report, stating that today over 1.07 billion USDC flowed into centralized trading platforms. Historical data shows that an increase in USDC on trading platforms usually has a positive impact on the price of Bitcoin. For example, after the FTX crash in December 2022, similar trades occurred daily and eventually coincided with characteristics of the bear market bottom. Today, over $1 billion worth of USDC was transferred to trading platforms, with most ($875 million) flowing into top CEXs. Although certainty is not 100%, this is very similar to trades by large institutional participants.