- Tether mints $1 billion USDT, indicating increased demand from institutions or exchanges.
- Tether bought 8,888 BTC worth $735 million in Q1 2025.
Bitcoin [BTC], the world’s largest cryptocurrency by market cap, appears bullish and is poised for massive upside momentum.
This bullish outlook is further supported by the recent minting of 1 billion USDT by Tether, as reported by Arkham on X (formerly Twitter), indicating increased demand from institutions or exchanges.
Historically, the minting of USDT is often seen as a bullish sign for the crypto industry, especially for large assets like Bitcoin and Ethereum.
As a result of this mint, the overall cryptocurrency market is already witnessing an uptrend, rising by 1.80% over the past 24 hours, with BTC also breaking out from a bullish pattern.
Bitcoin technical analysis and upcoming levels
According to AMBCrypto’s technical analysis, BTC has turned bullish on the smaller time frame.
Recently, with ongoing upside momentum, it broke out from a bullish inverted head-and-shoulders pattern on the hourly time frame.
Based on the recent price momentum, if BTC closes its hourly candle above the $84,000 level, there is a strong possibility it could soar by 5.50% to reach the upcoming resistance at $88,500 in the near future.
Source: TraduingView
At press time, BTC’s price was facing resistance from the 200-day Exponential Moving Average (EMA) on the daily time frame and appeared to be breaching it as well. If this occurs, BTC could see an imminent rally.
Is now the time to buy Bitcoin?
In addition to this bullish price action, the blockchain-based transaction tracker Lookonchain recently shared a post on X stating that Tether bought 8,888 BTC worth $735 million in Q1 2025.
This occurred during a period when BTC experienced a price drop of over 18%, indicating that the current level could be an ideal buying opportunity.
Tether is not the only major player that bought BTC during the recent price crash. Major firms like Strategy (MSTR), BlackRock, and others have also seized this opportunity and accumulated BTC.
This massive purchase by these industry giants gives hope that the current level might be an ideal buying opportunity.
At press time, BTC was trading near $84,100, having experienced a price surge of over 2.60% in the past 24 hours.
Following the minting of 1 billion USDT and the recent breakout of a bullish pattern, traders and investors have shown strong interest in the asset, leading to a 45% jump in BTC’s trading volume during the same period.
Traders’ bullish bet
This surge in trading volume is explained by traders’ $1 billion worth of bullish bets.
Today, the on-chain analytics firm Coinglass reported that traders are over-leveraged at the $81,800 level on the lower side and $84,355 on the upper level, which is on the verge of liquidation.
Source: Coinglass
Data revealed that traders have built $989 million worth of long positions and $287 million worth of short positions at these over-leveraged levels in the past 24 hours.
So, bulls are back, and that BTC could see an impressive upside move.
