Bitcoin sell pressure ‘closer to exhaustion’ after $4B USDT market-cap drop: CryptoQuant

Bitcoin analysis suggested that sell pressure would not increase given the historically large contraction in USDT market cap over a 60-day period.

Biggest stablecoin Tether (USDT) has shed $4 billion in market cap in just two months, but history suggests that the downturn is nearly over.

Key points:

Onchain analytics platform CryptoQuant in a blog post last week flagged market cap “undergoing one of its sharpest contractions on record.”

Read more