Changpeng Zhao denies reports that Binance bought more than 100,000 BTC amid a price drop

Zhao denies Binance buying 101 266 BTC amid price drop.

Binance CEO Changpeng Zhao said that reports of the exchange purchasing 101 266 BTC were not true.

Another wrong article. When #Binance cold wallet increases, it means more users deposited to #Binance. This journalist doesn’t seem to under the concept of cold wallets for exchanges. 😂

» Breaking: Binance Buys The Dip, Adds 101,266 Bitcoin https://t.co/RbrAHiUL2t

— CZ 🔶 Binance (@cz_binance) June 19, 2022

Previously, some outlets reported that the platform had acquired a large tranche of Bitcoin amid the drop in the price of the leading cryptocurrency.

Zhao called the information ‘yet another incorrect article’ and said its authors do not understand how exchanges with cold wallets operate.

On June 18, Bitcoin price fell below the psychological level at $20 000 and dropped to $17,800.

As of writing, the leading cryptocurrency is trying to hold above $20,000.

According to Coinglass, the cumulative liquidation volume on the futures market over the past 24 hours amounted to $300 million.

Since the start of the month, Bitcoin has fallen 36%, Ethereum 44%. The Fear and Greed Index has risen by one point, to 9.

Earlier, Nayib Bukele urged bitcoin investors not to worry about the price of the leading cryptocurrency. He said that investments in digital gold will grow immensely once the bear market ends.

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