THELOGICALINDIAN - The bottomward accelerate continues today as bitcoin drops afterpiece to abutment already afresh Meanwhile the Tether printers accumulate on churning out new bill as addition 50 actor USDT tokens access the market
Bitcoin Moves on Tether Issuance
Bitcoin spent best of Saturday in a bottomward slide, bottoming out at $10,800. From there, it rapidly rebounded and managed to billow aback to $11,500 area the 50 hour affective boilerplate lies. Since afresh however, BTC has started to abatement aback afresh and is currently trading at [coin_price].
The lows are accepting lower but on the account appearance bitcoin is still aural its ambit apprenticed approach and trading sideways.
The move was possibly affiliated to the Tether printers pumping out addition 50 actor USDT. Initially the ‘Whale Alert’ cheep annual falsely appear a excellent of 5 billion tokens sparking a beachcomber of speculation.
Crypto banker Alex Kruger noticed the 5% pump and the erroneous notification:
The new book was allotment of a bandy from Omni to Tron Tether as Justin Sun confirmed.
Big Pullback Looming For BTC?
The account blueprint indicates that things could be axis bearish for bitcoin. There accept been a few continued wicks through attrition but no closes aloft it. Horizontal abutment lies in the $8,000 arena so a beyond alteration could be branch here. Trader and analyst Josh Rager has been belief the account blueprint advanced of today’s closing candle.
Elsewhere in crypto acreage things are attractive appealing grim. Even with bitcoin’s about 14% pullback from the contempo aerial of $13k, its bazaar ascendancy still charcoal a solid 67.7% at the moment according to Tradingview.
Around $10 billion has been absent from absolute bazaar assets over the accomplished 24 hours, which now stands at $307 billion. The arena is absolutely red this morning as best of the top 10 crypto assets abide to slide. Taking the better dump today is Bitcoin SV accident over 7%, and falling beneath $150.
A all-inclusive majority of altcoins are in accident approach today, afar from South Korean blockchain project, ICON (ICX). The ICX badge has surged 46% in the aftermost 24hrs as VELIC, the aboriginal barter on the ICON ecosystem, launches.
Will bitcoin actual aback to $8k? Add your thoughts below.
Images address of Twitter @Whale_alert, @Krugermacro, @Josh_Rager, @Justinsun, Tradingview and Shutterstock
