BTC Surge, Let's Talk About the Two Possible Drivers Behind It

1. On the funding side, the "great transfer before the collapse" of a certain notorious platform

Recently, a certain notorious platform was reported to have seen as much as 1.8 billion USDT (approximately 12.9 billion RMB) being gradually gathered from multiple user pools, concentrating into three new addresses just before the platform's collapse in June.

On-chain data shows that these funds quickly turned white, making them almost impossible to recover. Such operations theoretically can only flow into BTC/ETH in the end, as holding USDT is too risky and could be frozen by Tether or Sun Ge at any moment.

The timing also aligns closely with recent market performance.

2. On the news front, the Crypto learning wave has reached Shanghai

This week, Shanghai organized a study on Crypto and stablecoins, leading many to speculate that the policy direction will bring in new investments, with even the elderly starting to get involved.

However, I personally feel the likelihood is low. Objectively speaking, the press release was issued late at night, and new investments could not ramp up so quickly. Moreover, the market's triggering point appeared last night and this morning, which doesn't completely match the timeline.

Which explanation do you lean towards?