• Big transactions of more than 1. 2 billion USDT made in multiple transactions which may indicate that the bottom has been formed for Bitcoin price.
• Previous Large Tether emissions were always linked to buying signals at market lows for Bitcoin, raising questions about the price outlook.
• The significant linkage between Tether USDT and Bitfinex increases the possibility of market manipulation through large mints of USDT.

Tether Treasury has produced over $1.2 billion of USDT in a series of transactions within the last ten hours. This rise in issuances of stablecoins has not gone unnoticed by the market observers, especially since Tether is known to have announced large issuances in previous bottoms. IFinex’s Tether and Bitfinex, completed three massive minting operations in a very short period. Thus, raising questions about the potential effect of such operations on the rest of the cryptocurrency market.

Tether Treasury Minting Spree and Bitfinex’s Strategic Role

The first large movement was made 10 hours ago when Tether Treasury issued 1.2 billion USDT. This was followed by two additional transactions: Another transaction completed 49 minutes, 100 million USDT minted and sent to Bitfinex, and 52 minutes ago, 100 million USDT minted on the TRON blockchain. 

Some trading experts have suggested that these two closely-timed and large-scale minting events could signal an imminent large market move forward.Tether is a stablecoin that is anchored to the US dollar and is often employed by traders to enter and exit trades converting between cryptocurrencies and fiat currencies.

Tether, for instance, is said to have a very close association with Bitfinex, a major crypto exchange, with both companies being owned by the Hong Kong-based iFinex. These two entities tend to have a direct relationship, especially since Bitfinex has a significant role in the distribution of new USDTs on the market.

Impact on Bitcoin and Future outlook

Historically, significant Tether minting events have coincided with market bottoms for Bitcoin. The influx of new USDT liquidity into the market is seen by many as a precursor to buying pressure, as traders use the stablecoin to acquire assets like Bitcoin. The market is closely watching the timing and scale of this Tether minting, as it could play a crucial role in shaping short-term cryptocurrency price movements.

The post Bitcoin Bottom Imminent? $1.2 Billion USDT Just Minted by Tether Treasury appeared first on Crypto News Land.

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