$BTC The price has shown strong rebound momentum, successfully regaining lost ground and returning to the key level of $100,000.
Behind this wave of increase is the continued issuance of USDT by stablecoin issuer Tether, injecting ample liquidity into the market.
Meanwhile, the active accumulation by Bitcoin whales and positive on-chain data signal that Bitcoin's upward trend remains solid and has yet to reach its peak.
In the past 24 hours, Bitcoin's price bounced back from a solid support level of $96,000, achieving a 2.17% increase and reaching a new height of $99,376, with the market cap climbing to $1.97 trillion.
Although daily trading volume has declined to $84 billion, the overall market enthusiasm has not waned.
On-chain data shows that during the Bitcoin price correction, many Bitcoin whales took the opportunity to stock up significantly. According to crypto analyst Ali Martinez, in just the past 24 hours, whales have accumulated $2 billion worth of 20,000 Bitcoins.
This move undoubtedly injects more confidence into the market, indicating that there is still significant room for Bitcoin's future rise.
Martinez also pointed out that the local price peaks of Bitcoin often align with the cost basis of short-term holders plus one standard deviation.
The current key level has been calculated at $112,926, which may become an important resistance level for Bitcoin's future upward movement.
However, as long as the important support level of $96,870 remains solid, Bitcoin's upward trajectory is expected to continue.
This price point has gathered a massive demand from approximately 1.45 million addresses, which collectively purchased 1.42 million Bitcoins, highlighting its profound impact on the market.
Additionally, the inflow of funds into spot Bitcoin ETFs remains strong, with their total BTC holdings even surpassing those of Bitcoin's creator Satoshi Nakamoto.
On Friday, the total inflow reached $376 million, with BlackRock's IBIT contributing over $257 million. Earlier this week, IBIT celebrated a significant milestone—assets under management reached $50 billion, showcasing strong market optimism towards Bitcoin.
As a leader in stablecoins, Tether has additionally minted $2 billion USDT on the Ethereum blockchain network, providing more liquidity to the Bitcoin and altcoin markets.
According to Spot On Chain, since November 6, Tether has minted a total of $19 billion USDT on Ethereum and Tron, with $4 billion issued in just the past four days.
This influx of new liquidity undoubtedly provides strong support for the rise in Bitcoin prices.
In the past month, with a significant injection of new liquidity, Bitcoin's price has broken the $100,000 mark twice. Market analysts generally believe this upward momentum is likely to be sustained.
Meanwhile, Tether is continuously expanding its dominant position in the overall cryptocurrency market.
Tether is also actively exploring other ways to expand its market coverage. Last month, Tether launched a Wallet Development Kit (WDK), an open-source self-custodial toolkit designed to help developers build Bitcoin and Tether (USDT) wallets.
This initiative will promote financial autonomy, supporting human users and AI-driven systems to independently manage their digital assets, injecting new vitality into the future development of the cryptocurrency market.
