Paolo Ardoino, the CEO of Tether, a stablecoin issuer, called Bitcoin 'invincible' in a recent post on X. This bold claim was made amid a turbulent market and new downward pressure on digital assets.

Bitcoin price volatility has been relatively quiet this week, but Ardoino's comments have sparked much debate among traders and analysts.

Tether's Bitcoin Holdings Increase

According to reports, Tether has increased its Bitcoin reserves to nearly 80,000 BTC. This amount of Bitcoin is valued at over $9 billion at the current exchange rate.

The company's continuous buying indicates they see tremendous value in Bitcoin even as prices fall. In recent weeks, Tether's balance sheet has heavily depended on the world's oldest cryptocurrency.

Some market watchers believe such a commitment from a large entity could bolster confidence in Bitcoin's long-term prospects.

Supporters quickly backed Ardoino's viewpoint, pointing to Bitcoin's historical recoveries after major sell-offs. Based on reports from cryptocurrency forums and social media, many believe that only strong and prolonged shocks can truly push prices higher in the long term.

However, some others warn that calling any asset 'invincible' risks lulling investors into a false sense of security. They caution that new technologies could emerge and challenge Bitcoin's leading position in the years to come.

Technical Alert From Bollinger

Meanwhile, John Bollinger, the creator of the Bollinger Bands charting tool, issued a note on X about the possibility of a 'fakeout' in Bitcoin prices.

He pointed out that the tightening of the Bollinger Bands pushed Bitcoin down to $111,900 briefly on August 3, before bouncing back to $115,700.

This sudden reversal has led many bears to bet on the next decline. Bollinger also noted that a similar pattern does not appear on cryptocurrency ETFs, as these funds do not trade on weekends.

Borrowed from basketball, the term 'head fake' describes an asset moving in one direction and then reversing, surprising traders.

Bitcoin closed most trading sessions near $115,000 this week, with Bitstamp data showing the trading price at $115,200 at one point.

The coin has seen slight gains in the past 24 hours, but volatility remains a factor. Traders note that weekend price gaps and low liquidity could cause sharp fluctuations in either direction.

Market Participants Consider

Analysts and fund managers are analyzing both the optimistic view of the Tether CEO and the cautious warnings from Bollinger.

Some argue that Bitcoin's performance over the past decade—including overcoming regulatory crackdowns, global economic shocks, and major exchange failures—merits such bold labels.

Others argue that only blind faith will not protect investors from sudden market fluctuations.