Binance CEO Changpeng Zhao has denied reports that the crypto exchange has received 101,266 BTC from bottom prices. At the weekend, some news sites reported that Binance had purchased a large amount of Bitcoin from the bottom. Changpeng Zhao said on Twitter that Binance did not buy Bitcoin over the weekend.

In these news, which emerged when Bitcoin fell below $ 20,000 at the weekend, it was claimed that the largest crypto money exchange bought BTC, on the basis of which Binance transferred approximately 101,266 BTC to its cold wallet. In the statement made by the CEO of Binance, it was stated that while this transaction, seen in the Blockchain records, was not rejected, it was not evidence of Bitcoin purchase.

Detailing his statement, Changpeng Zhao said that BTC assets were transferred to the cold wallet after users deposited above-average crypto on the exchange. According to this statement, CZ says that the indirect purchase of Bitcoin is made by users.

After Bitcoin (BTC) regressed to the $ 17,000 band in weekend transactions, significant purchases were seen from the bottom, and BTC's weekly closing was at $ 20,500. The biggest cryptocurrency was finding buyers at the $20,000 limit in the morning. Bitcoin (BTC) broke the critical $20,000 support and slumped to $17,600 with intense selling pressure in weekend trading. When Bitcoin, the largest cryptocurrency, started to make hourly closings below $20,000 in the early hours of the weekend, an increase in panic selling occurred and the cryptocurrency fell to $ 17,622. On the last day of the week, buyers in the Bitcoin market stepped in and started buying from the lowest levels seen for the first time since November 2020. With the purchases that continue throughout the day, Bitcoin closed the week at $ 20,574.