NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Analyst: Tether Print Hints Strong Bitcoin (BTC) Recovery Back After $4,000 Fall

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

That’s right ladies and gentlemen, Bitcoin (BTC) has fallen to $9,800. This marks a 30% decline from the asset’s year-to-date high of $13,800 — a key technical resistance and support on Bitcoin’s long-term chart.

Related Reading: Edward Snowden on Crypto and Privacy: Bitcoin is Freedom Because It’s Permissionless

As analyst Teddy Cleps points out, this foray under $10,000, the first of its kind in about ten days, puts BTC under an array of key supports: the 21-day exponential moving average (EMA), the $11,700 support, the 89-day EMA, and arguably most importantly, the psychological $10,000 price point.

https://twitter.com/teddycleps/status/1145949383332175874

This has led some cynics to remark that BTC is poised to collapse. In fact, on stage at the Asia Blockchain Summit in Taipei on Tuesday, Nouriel Roubini, the staunch cryptocurrency critic and career market cynic, jabbed on Bitcoin for losing 30% of its value in a week’s time.

A prominent analyst, however, recently came out in support of the cryptocurrency, claiming that it is due for a strong (re)recovery to the upside, not a collapse to zilch as many doomsayers are waiting on.

$100M USDT Grant Suggests Bitcoin Bounce

In 2017, analysts across the board accused Tether, the stablecoin provider, of manipulating markets by printing USDT, one of the highest traded crypto assets then and now. A report later vindicated the Bitfinex-linked startup, with researchers (namely Dr. Wei of The University of Queensland) suggesting that USDT was innocuous, and was mostly an on-ramp for certain investors to gain access to Bitcoin and its ilk.

Despite the vindication, as BTC has recovered in 2019, rallying from $3,150 to $13,800 last week — a gain of over 300% — analysts have begun to eye a correlation between the amount of USDT in circulation and the price action in Bitcoin and cryptocurrencies at large.

The commentator leading this insight is Filb Filb, a lead analyst at NewsBTC sister site Bitcoinist. Per previous reports from this outlet, he noted that each time the Tether treasury minted more of its stablecoin, which exists on the Bitcoin (Omni), Ethereum, Tron, or EOS chains, BTC rallied sometime later.

Oh Boy.$btc still got legs? pic.twitter.com/YyMsgsdFzM

— filbfilb (@filbfilb) June 11, 2019

This correlation is so accurate that it basically predicted the overall move from $5,000 to $13,800, which, if you’re aware of the glaring inaccuracy of calls made on Crypto Twitter, is quite the feat.

Fundamentally, this correlation makes sense. USDT is supposedly issued when Tether’s or Bitfinex’s treasuries receive an inflow of capital. The stablecoin is then issued to exchanges or the investors that put up money to back Tether. From there, USDT can be used to buy Bitcoin, Ethereum, and other digital assets.

This same correlation now suggests that the collapse to $9,800 for Bitcoin may soon be ending, almost as fast as it started. In a recent flurry of messages in his Telegram channel, Filb Filb remarks that due to there being over $100 million of USDT recently authorized for release, a recovery could soon be had.

“Tether has not dumped… but the market had,” Filb wrote, accentuating the uncharacteristic dichotemy between the two figures.

By the aforementioned logic of the correlation, the recent seeming deposit of capital into Tether’s treasury should mean that in the coming weeks, Bitcoin should bounce from collapse levels, returning to the $10,000 or $11,000 range. As Filb wrote via Telegram earlier: “[The recent authorization is] good news, but it might not be GREAT news for the bulls for a little time yet.”

Strong Fundamentals Suggest Bulls in Control

The cryptocurrency industry has seen such an influx of positive news that it would be hard to argue that bulls remain in control. Case in point, Monday saw ErisX — a cryptocurrency exchange backed by TD Ameritrade, the CME, CBOE, Nasdaq, Fidelity Investments, Digital Currency Group, and countless others — secure a  key license from the CFTC that allows it to list Bitcoin futures.

Related Reading: Bitcoin Is Fundamentally Robust, But Bears Don’t Seem to Care; Has BTC Topped Out?

With TD Ameritrade previously hinting that it may add crypto trading in the near future, it is believed that ErisX’s vehicles will act as a medium for investment once launched. In a similar string of news, both LedgerX and Bakkt, more importantly, are also expected to soon launch cryptocurrency trading vehicles that will make this market more efficient for institutional and retail investors alike.

And, as covered extensively by NewsBTC previously, the macroeconomic backdrop of the global economy today is proving a need for Bitcoin and other digital assets. As to whether or not and how it translates to price action remains to be seen though.

Featured Image from Unsplash. Charts Courtesy of Tradingview.com
Tweet123Share226ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Snaky Way Presale Live: AI Meme Coin $AKE Gears Up for Bull Run

Snaky Way Presale Live: AI Meme Coin $AKE Gears Up for Bull Run

If you’ve been around crypto long enough, you know the signs. Bitcoin wakes up. Ethereum starts stretching. Suddenly, the air feels...

Aaron Walker 4 hours ago
Solana

Solana’s Pump.Fun Loses Steam With Exit Scam Rumors, LetsBonk.Fun Claims 54% Of Total Market Share

Solana meme coin launchpad Pump.fun has lost a significant chunk of its market share to LetsBonk.fun. This comes just ahead...

Scott Matherson 5 hours ago
Trump

TRUMP Meme Coin Plants Flag On TRON Network—Details

Meme coin TRUMP made waves when it launched on Solana on January 17, 2025, issuing 200 million tokens out of a...

Christian Encila 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin price news

Last Time This Happened, Bitcoin Jumped $50,000—Is History Repeating?

Jake Simmons 7 minutes ago
Bitcoin

Bitcoin Price Crash To $92,000 Or New ATHs? Analyst Explains The 2 Options

Scott Matherson 1 hour ago
PEPE

PEPE Traders Spot Breakout Echo—Explosive Surge Back On The Table?

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • Felpörgő alternatív kriptovaluta a Dogecoin (DOGE) helyett – 650 dollárból 65 000 dollár lehet 4 hónap alatt

    Felpörgő alternatív kriptovaluta a Dogecoin (DOGE)...

    3 hours ago
  • 3 figyelemre méltó altcoin 2025. júliusának első hetében

    3 figyelemre méltó altcoin 2025. júliusának első...

    4 hours ago
  • Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD udělá 65 000 USD za 4 měsíce

    Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD...

    5 hours ago
  • 3 altcoiny, které sledovat v prvním týdnu července 2025

    3 altcoiny, které sledovat v prvním týdnu července 2025

    6 hours ago
  • Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE), który zamieni 650 USD na 65 000 USD w ciągu 4 miesięcy

    Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE)...

    6 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.