Tether (USDT) On-Chain Activity Surges... Signal for Bitcoin (BTC) Rebound?

# Tether’s On-Chain Activity Hits Six-Month High Amid Market Interest #NY—by Jae-Hyung Park, Special Correspondent Tether (USDT), the leading stablecoin, has garnered market attention as its on-chain activity reached a six-month high. According to AMB Crypto on the 13th, the trend mirrors that of September last year, when Bitcoin (BTC) soared to an all-time high following a surge in USDT transactions. Recently, the number of USDT on-chain transfer wallets has exceeded 143,000, indicating investor purchasing activity amidst a broader market downturn. Notably, the inflow of Tether to exchanges has surpassed $2 billion, infusing fresh liquidity into the market. This coincided with Bitcoin dropping to a four-month low of $77,000, signaling intensified accumulation moves. Subsequently, BTC rebounded by 7.70%, recovering to $83,000. A similar pattern was observed in September 2024, when a spike in USDT network activity led to the creation of 53,767 new wallets within a day. Bitcoin then dropped to $56,000 before soaring more than 70% in the subsequent quarter, marking a bull run. However, the current market environment differs from that period. The Fear & Greed Index remains at a ‘Fear’ level, and there was a net outflow of 3,954 BTC ($324.12 million) from spot-based Bitcoin ETFs. BlackRock’s iShares BTC ETF sold off 1,819 BTC ($149.07 million), reflecting cautious sentiment among institutional investors. Amid these dynamics, it remains uncertain whether the high on-chain activity of USDT will signal a BTC uptrend. Despite Bitcoin's 7.70% rebound, the market continues to prioritize short-term price volatility. Without sustained buying interest, further gains in BTC could be limited.