Significant Tether minting sparks speculation on Bitcoin hitting $65,000

From Nasdaq
August 09, 2024 11:05 AM:

Tether has minted $1.3 billion in USDT since August 5, leading to speculation on whether it could push Bitcoin past $65,000.

The influx of USDT into major exchanges signals potential buying pressure, acting as a bridge between traditional and digital assets.

Bitcoin has surged over 21% since hitting $49,500 on August 5, aiming to break the $64,000 to $65,000 resistance range.

U.S. Bitcoin ETFs received $194 million in inflows on August 8, historically driving Bitcoin’s price up.

Bitcoin is currently priced at $60,401.

Read more at Nasdaq: Tether Mints $1.3 Billion USDT: Could Bitcoin Break $65K?