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Bitcoin Retreats While Tether Printers Churn Out More USDT

The downward slide continues today as bitcoin drops closer to support once again. Meanwhile, the Tether printers keep on churning out new currency as another 50 million USDT tokens enter the market.

Bitcoin Moves on Tether Issuance

Bitcoin spent most of Saturday in a downward slide, bottoming out at $10,800. From there, it rapidly rebounded and managed to surge back to $11,500 where the 50 hour moving average lies. Since then however, BTC has started to fall back again and is currently trading at 00.

The lows are getting lower but on the monthly view bitcoin is still within its range bound channel and trading sideways.

BTC price 1 hour chart – Tradingview.com

The move was possibly linked to the Tether printers pumping out another 50 million USDT. Initially the ‘Whale Alert’…

What do you think?

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