#比特币对比代币化黄金 Yesterday when USDT fell below 7, were you also staring at the market and getting anxious? But think calmly—after being in this space for so long, what are you really trading? Are you watching every fluctuation in the fiat exchange rate, or are you truly capturing the value swings of crypto assets?

You should know that last night when $ETH surged 10% in a single day, many people were still hung up on the fact that the price of USDT dropped by a few cents.

This drop in USDT price isn’t a coincidence. Two main factors are pulling the market in different directions:

**First factor: The Fed’s poker table is about to be flipped**
Trump is pushing hard for Hassett to replace Powell, and an aggressive rate-cut path is almost certain. The odds for a rate cut in December are now close to 90%, and a weaker dollar is basically consensus. With the RMB relatively strengthening, USDT naturally can’t withstand the pressure—this is the basic logic of the exchange rate game.

**Second factor: Regulators are reaching into the gray areas**
Recently, domestic scrutiny of stablecoin exchange channels has significantly intensified. Many funds, trying to avoid risks, have been forced to sell off USDT in bulk, causing a short-term spike in supply and naturally pushing the price down.

USDT is falling, but coins are rising—does that seem contradictory?

Not at all. The logic is clear: Weaker dollar + expectations of looser liquidity = capital flowing back into high-risk assets. Looking back at history, before every bull run, the USDT exchange rate always goes through a period of pressure. This phase is exactly a signal for capital reallocation.

There are always two types of people in the market: newcomers panic and stay on the sidelines, while seasoned players quietly swap for USDT at the bottom. When the exchange rate rebounds to 7.5, that 10% price difference is pure profit.

Which side are you on now? $ETH $ZEC $SOL