USDT issued by Tether continues to be a support point for Bitcoin.
According to the analysis shared by blockchain analysis firm CryptoQuant, the amount of USDTs in the market is, 30 billion since the end of 2022 It increased.
The increase in USDT supply in the market generally reflects positively on the Bitcoin price. According to the analyst, liquidity in the market may have increased with the approval of spot Bitcoin ETFs.
According to TradingView data, Bitcoin, which fell below 39 thousand dollars last week, gained 1.75% in value on a weekly basis and is changing hands at 42 thousand 275 dollars.
Between the increase in USDT supply and the volatility in Bitcoin price a high correlation The analyst stated that this also led to an increase in transaction volumes.
