Binance sends $500M USDT to Tether Treasury as Bitcoin nears $65K

Tether Treasury received 500 million USDT from a Binance hot wallet on July 30, a transfer that coincided with Bitcoin's recovery toward the $65,000 resistance level.

The transaction, detected by Whale Alert on the ERC-20 Ethereum network, moved the stablecoins from Binance's hot wallet to an address controlled by Tether's treasury. The exchange likely returned excess tokens on Ethereum to receive an equivalent amount on faster, cheaper networks to meet margin demand, according to market analysts tracking the flow.

Bitcoin reached $64,964 on Bitstamp during the session, with the Point of Control — the price level with the highest trading volume — forming at $64,102 on the 5-minute chart. The Relative Strength Index climbed from oversold levels below 20 into the neutral 40-to-60 range, indicating selling pressure had weakened. The broader market absorbed the $500 million transfer without sharp volatility, and Bitcoin held near the upper boundary of its local trading range.

The outflow from Binance to Tether's treasury does not necessarily signal reduced exchange liquidity. Stablecoin inflows to exchanges typically indicate buying readiness, while returns to the issuer often reflect routine cross-chain swaps. Bitcoin's ability to hold above the $64,102 support zone will determine whether the rebound can break through the psychological $65,000 resistance in the coming sessions.

Bitcoin and XRP were the only crypto exchange-traded funds to post positive flows on the same day, with Bitcoin ETFs attracting $32 million and XRP funds adding $585,000, according to CoinGlass data. The inflows arrived as on-chain whale activity — transactions exceeding $100,000 — increased substantially, Santiment data showed, a pattern that typically reflects sustained capital deployment rather than retail speculation.

The correlation coefficient between Bitcoin and XRP stood at 0.30, per Coinhedge data, suggesting both assets are responding to similar institutional demand drivers despite their low direct correlation. XRP's price action tested a key ascending trendline resistance near $1.09 on its daily chart, with its Stochastic RSI also bouncing from oversold territory.

For Bitcoin, the combination of positive ETF flows, rising whale transaction counts, and improving technical momentum creates a foundation for another attempt at the $65,000 level — a zone that has triggered two rejections over the past month. The daily candle close relative to that resistance will be the key event for traders in the next session.

This article is for informational purposes only and does not constitute investment advice.