The data of Lookonchain suggests that Tether has beaten another billion, which can be considered a huge bullish signal. In recent weeks, the BTC price has experienced a significant increase after two bound USDT. That is why, now that the USDT has hit a billion tokens, there is a huge possibility that Bitcoin causes a strong revival.
The US has just accepted the new Stablecoin Bill, or the brilliant bill, which is expected to shake up the Dominance of Tether in the market. With the tighter regulations, USDC and the other Stablecoins can get site. Nevertheless, the USDT maintains stability to $ 1, which strengthens its position with a market capitalization of $ 155.58 billion. One of the main reasons for stability could be the influx of new USDT tokens on the market.
Will the BTC price rise again?
Bitcoin Price has kept strong above the crucial support at around $ 102.8k, because it has revived a strong increase, so that the soil will be marked soon. Currently, the price is confronted with a huge compression with the long/short ratio nearly 50/50, which opens the possibility of a breakout and a breakdown. That is why a confirmation of a trend can depend on the price that differs above $ 107k or falls below $ 103k. In the wider perspective, however, the Bitcoin price is on the neckline of a huge bullish structure, and therefore an outbreak can propel the sign to a new ATH.