Bittime – Tether's latest Bitcoin acquisition comes amid growing institutional interest in Bitcoin.
Approval of the formation of a Bitcoin futures exchange-traded fund (ETF) in the United States and the Bitcoin (BTC) halving event are factors driving this interest. Halving Bitcoin (BTC) will halve the supply of newly issued Bitcoin (BTC).
Tether (USDT) Allocate 15% Profits to Bitcoin
Tether Company (USDT) announced that it will invest 15% of their net profits into Bitcoin. This move aims to diversify their USDT stablecoin backing assets.
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USDT Market Capitalization Hits Record $100 Billion
USDT, a stablecoin issued by Tether, managed to reach a record market capitalization of $100 billion on March 4. USDT market capitalization has also experienced growth of 9% since the beginning of 2024.
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Bitcoin Price Above $69,000, Pre-Halving Correction Over?
Although the price of Bitcoin (BTC) fell 1.23% in the last 24 hours to $69,523 as of 8:45 UTC, Bitcoin is still trading above the support level of $69,000.
Bitcoin (BTC) price holding above $69,000 since March 25 is considered a signal of the end of the pre-halving correction.
This is despite the "largest quarterly options expiry" event which occurred on March 29.
Analyst: Pre-Halving Correction May Have Been Over
Anonymous crypto analyst Rekt Capital, in a video analysis on March 26, argued that Bitcoin (BTC) pre-halving correction may be over.
This is based on the price movement of Bitcoin (BTC) which managed to break through the previous high ($69,000) and make it new support.
- For the first time in history, Bitcoin (BTC) reached a new high before the halving event.
- Basile Maire, co-founder of decentralized exchange D8X and former UBS executive, told Cointelegraph that although Bitcoin (BTC) prices are showing strong movement, the halving event has not been fully “factored” into the price.
How to Buy Tether (USDT) on Bittime
You can buy and sell Tether ( USDT ) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Tether (USDT) is available on Bittime with the USDT/IDR market pair . To be able to buy USDT/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Tether ( USDT/IDR ) on Bittime .
Monitor the price chart movements of Tether ( USDT/IDR) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Ethereum Price Recovery: Overcoming Hurdles to a New Upgrade
Bitcoin Cash (BCH) Experiences a Post-Halving Roller Coaster, Prices Fluctuate
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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