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How does the price of Bitcoin relate to the amount of USDT in circulation? CryptoQuant explained.

By baltoni

Recently, the company CryptoQuant analyzed the relationship between how much Tether (USDT) is being used and the price of Bitcoin.

As per the report, the supply of USDT has gone up by around 30 billion since the end of 2022. Usually, when more BTC is available, the price of BTC goes up. CryptoQuant has found that this connection is steady and one of the most important discoveries of the analysis.

The CryptoQuant chart tells us how the amount of USDT (a type of cryptocurrency) available is connected to the price of Bitcoin.

Experts say that BTC is expected to perform well because the supply of USDT is increasing. The Bitcoin market has improved and there is more money flowing in. Analysts think that this is because new money is coming in, maybe because people are excited about the possibility of a Bitcoin investment fund and more people are interested in investing.

Studying the data shows that when there is a lot of USDT available, the price of Bitcoin tends to go up. Experts say that this connection has caused the amount of Bitcoin being traded to go up and made the price change a lot.

Warning: This is not a recommendation for investing your money.

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