Yuri Molchan

Current BTC Prices Depend on USDT: Analysts

On Aug. 21, a large amount of USDT coins were sent to the Bitfinex hot wallet, thus preventing BTC prices from dropping below $6,000 and sending it upwards
Current BTC Prices Depend on USDT: Analysts

On Aug. 21, a large amount of USDT coins were sent to the Bitfinex hot wallet, thus preventing BTC prices from dropping below $6,000 and sending it upwards. However, now the USDT treasury contains the last 150 mln tokens, which means a new emission may come soon.

Right now, the USDT share on all crypto exchanges exceeds 46 percent, according to the CryptoCompare analysis. A conclusion that can be made is that currently BTC prices are not connected with “an inflow of institutional investors” but is the result of USDT trading and liquidity.

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