Tether’s decision to mint an unprecedented amount of USDT over a short period has sparked intense speculation about the potential impact on Bitcoin’s price.

Experts are closely monitoring this development. Indeed, historical patterns suggest a strong correlation between Tether’s minting actions and notable upswings in the price of Bitcoin.

Tether Mints 2 Billion USDT: Potential Bitcoin Price Reaction

Tether has minted a staggering 2 billion USDT within a mere span of 10 days. This development comes on the heels of a recent minting of 1 billion USDT. Therefore, it marks a significant increase in the issuance of this prominent stablecoin.

Historically, such substantial minting events of Tether (USDT) have strongly correlated with noteworthy Bitcoin price surges. This raises a crucial question of whether the price of Bitcoin will endure significant volatility in the coming days.

According to renowned crypto analyst Tone Vays, Bitcoin’s current consolidation phase indicates an underlying momentum. Vays pointed out that the weekly chart for BTC shows the formation of an ascending triangle. Indeed, this technical

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Author: Bary Rahma

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