Bitcoin Market Gains 6.5%, Driven by USDT Addition Amidst Decreasing Demand

While Bitcoin’s market demand has dipped, reaching levels lower than the previous month, the asset experienced a notable surge in value, increasing by 6.54% in the last 24 hours. This jump brings its current trading value to approximately $93,684. However, this increase came despite weak market momentum and liquidity decline. A recent influx of $1 billion in USDT may offer some support to the struggling market. According to CryptoQuant, demand for Bitcoin has dropped considerably, leading to a decrease of $13 billion in demand over the past month. This dip is accompanied by a weakening demand momentum – a level not seen since October 2024. Investors appear less interested in acquiring Bitcoin, thus reducing liquidity flow into the market. However, this increase may be influenced by the recent influx of stablecoin USDT, which has recently experienced a surge in interest from traders. If this trend continues, it could indicate a potential bullish sentiment in the crypto market and drive further price growth for Bitcoin.