The post $1 Billion USDT Minted Ahead of FOMC Meeting Today appeared first on Coinpedia Fintech News
MisterCrypto unveiled an exciting bullish news for Bitcoin price and the broader crypto market. Today, as FOMC meeting approaches, prior to this meet a staggering $1 billion worth of USDT was minted on Ethereum.
This significant influx of cash coming into the world’s largest stablecoin clearly a pivotal moment for Bitcoin, especially if the Federal Reserve decides to cut interest rates. Such a move might elevate the price’s of risky assets, including pumping BTC into a price discovery phase.
The news was confirmed via Lookonchain’s official X account, which noted that in the past, similar USDT minting events led to substantial Bitcoin price surges.
MisterCrypto pointed out that despite the prevailing bearish sentiment fueled by geopolitical tensions, Bitcoin could potentially soar to $140,000. This has left many investors wondering: can Bitcoin really rise amidst the current panic?
Keep reading to know more to this minting event and what it could mean for Bitcoin’s future.
Why Bitcoin Price Poised For A Rise?
Yesterday, the US posted a fierce teaser to Iran to submit to the US. The Truth Social post starting with “unconditional surrender!” from Donald Trump’s official account is indicative that the Israel-Iran conflict has disturbed the US, and the president intends to stop it.
Therefore, combined with the FOMC meeting and potential improvements in geopolitics with Iran surrendering to the US, it will be an ultra-bullish factor for the most-watched crypto sector lately.
Also, the Binance BTC/USDT liquidation heatmap clearly shows that all the liquidity sits on the topside, a break here would display “short-squeeze”.
Similarly, the $1Billion USDT could serve as a dry gunpowder to mass accumulate Bitcoin.
Additionally, based on ARKham’s data, Blackrock has bought $250 million worth of BTC by continuing a 6-day streak and now sits at a $70.63 billion stash.