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<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-can-tether-whales-save-btc-from-impending-correction/">Crypto Craze: Can Tether Whales Fuel Bitcoin and Ethereum Prices?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto world is buzzing with excitement as smart money dives into the action, driven by the recent spikes in <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin (BTC)</a> and <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">Ethereum (ETH)</a>. After observing from the sidelines, institutional investors are jumping into the crypto mix, leading to a notable increase in the trading volume of various digital assets. The momentum is strong, fueled by growing interest from major futures exchanges. </p> 
<p>Let’s take a closer look at the key indicators that suggest an upward trend in the crypto market, promising some interesting developments in the weeks ahead.</p> 
<h2 class="wp-block-heading" id="h-tether-whales-in-action">Tether Whales in Action</h2> 
<p>The demand for digital assets among institutional investors is undeniable. Santiment, a market intelligence platform, reveals a significant increase in <a href="https://coinpedia.org/news/ftx-trial-alameda-research-under-scrutiny-where-is-the-30-billion-in-tether/">Tether (USDT)</a> transactions valued at $100,000 or more—hitting over 40,000 weekly.</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw">#Tether</a>, <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a>'s top <a href="https://twitter.com/hashtag/stablecoin?src=hash&amp;ref_src=twsrc%5Etfw">#stablecoin</a>, has spiked in activity while <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#altcoins</a> have been flying. For the first time since early March, right as <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> started a +50% rally, we are seeing similar amounts of <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> in both trading volume &amp; in whale circulation. <a href="https://t.co/eTS8KAnsb1">https://t.co/eTS8KAnsb1</a> <a href="https://t.co/RfspmrcgwQ">pic.twitter.com/RfspmrcgwQ</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1725025714993508555?ref_src=twsrc%5Etfw">November 16, 2023</a>
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<p>This surge hasn’t been seen since March, reminiscent of the trading volume during Bitcoin’s climb from $21,000 to $29,000 amid the global banking crisis. The signs are clear – the crypto market is making a comeback.</p> 
<p>Read More: <a href="https://coinpedia.org/news/crypto-giants-binance-and-tether-under-scrutiny-post-sbf-conviction/">DOJ Cracks Down: Binance and Tether Face Terrorism Financing Charges</a></p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-action-analysis">Bitcoin Price Action Analysis</h2> 
<p>Looking at Bitcoin’s recent performance from a technical perspective unveils some interesting patterns. A breakout from a substantial ascending triangle pattern, triggered by excitement around <a href="https://coinpedia.org/price-analysis/is-btc-price-ready-to-top-40k-with-etf-approvals-on-horizon/">spot ETFs</a> in the United States, has caught our attention. The formation of a daily golden cross, where the 50 and 200 <a href="https://coinpedia.org/traders/what-is-moving-average-indicator/">Moving Averages (MA)</a> intersect, is a positive sign, dispelling short-term bearish sentiments. </p> 
<p>Also Read: <a href="https://coinpedia.org/news/all-etfs-will-be-approved-meld-ceo-reveals-bold-btc-predictions/">“All ETFs Will Be Approved,” MELD CEO Reveals Bold BTC Predictions</a></p> 
<p>However, a note of caution is in order. The possibility of a double top, combined with a bearish <a href="https://coinpedia.org/traders/relative-strength-index-rsi/">Relative Strength Index (RSI)</a>, is on the horizon. Bitcoin’s fate depends on its ability to consistently close above $37.9k in the coming days. Falling short might push the flagship coin towards the support range between $31k and $34.5k.</p> 
<p><strong>Do you think we’re on the cusp of another major bull run?</strong></p>

Crypto Craze: Can Tether Whales Fuel Bitcoin and Ethereum Prices?

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