Recently, the Tether company behind USDT not only issued an additional 1 billion USDT a couple of days ago, but also purchased 8,888 bitcoins worth $737 million yesterday. A couple of days ago, MicroStrategy also bought 22,048 bitcoins for $1.92 billion at an average price of $86,969. This wave of increase is not solely for liquidating short positions, but more for accumulating at low levels.

Currently, the main sellers of bitcoin are ancient whales and short-term holders, with some cashing out and others selling due to market panic. As a result, the fear and greed index has dropped below 30, entering a state of extreme fear.

In addition, Circle, the parent company of USDC, plans to go public in April, and there is a high probability that Trump's bill regarding stablecoins will pass. If implemented, the operations of USDT and USDC will become more regulated and may attract more companies to issue stablecoins.