The unforeseen decline in the value of Tether (USDT), a stablecoin backed by the US dollar on a 1:1 ratio, led premiums on major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to materialize, briefly pushing the price of BTC to $7,700.
In actuality, the price of BTC on fiat-to-cryptocurrency exchanges such as Coinbase and Bitstamp did not exceed $6,700. Still, the short-term recovery of BTC from $6,150 to $6,450 supported by a rise in daily trading volume from $3.2 billion to $4 billion is considered a positive market development for the mid-term.
https://www.ccn.com/bitcoin-price-rises-to-6450-as-market-stabilizes-has-crypto-hit-a-bottom/
