2024-03-04 13:03:49

#Will Bitcoin break the all-time-high price before halving?

Bitcoin Surges to $65,000 as Tether Unleashes 1 Billion USDT
Bitcoin catapulted to a fresh yearly pinnacle, surpassing $65,000 in response to the Tether Treasury's issuance of 1 billion USDT, marking a synchronized surge in both market dynamics and cryptocurrency value.

The recent issuance of USDT has triggered widespread speculation and heightened interest within the cryptocurrency sector.

Blockchain analytics platform Whale Alert reported a fresh batch of minted USDT on a Sunday, sparking a discussion about its potential impact on Bitcoin’s price. Historical data suggests a correlation between Tether’s minting activities and significant increases in Bitcoin’s value.

In January, Tether released 2 billion USDT over a ten-day period, coinciding with a noticeable surge in Bitcoin’s price, partly driven by anticipations of a spot Bitcoin exchange-traded fund (ETF). This pattern has led some to ponder the possibilities of future Bitcoin price volatility.

In the midst of market speculation, crypto investor Elja raised a question, “1 billion USDT got minted. Which coin are they planning to pump?”

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