How USDT mints and burns move with Bitcoin price cycles

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Coin Telegraph 1w ago

How USDT mints and burns move with Bitcoin price cycles - Coin Telegraph

Quick Summary:

This relationship is also evident when looking at Tether’s mint and burn chart over time.“However, it’s important to note that we have not observed this correlation over the past few months,” Eberhardt said.“I expect that as stablecoins see increasing adoption in non-native crypto use cases, this correlation will gradually weaken over time.”USDT issuance and Bitcoin price spikesWhale Alert’s data shows a consistent pattern of periods of aggressive USDT minting frequently coinciding with or closely preceding major Bitcoin bull runs.

Shifting stablecoin landscape impacting the USDT and Bitcoin relationshipWhile historical data shows a clear relationship between USDT supply changes and Bitcoin price movements, there are several factors that impact the price of Bitcoin, and the industry has yet to find concrete evidence that suggests USDT issuance directly influences the price of Bitcoin, or if they flow directly into Bitcoin.“It is not feasible to relate USDT supply (or minting) to a specific trading volume, as the majority of the trading against stablecoins happens on centralized exchanges, especially relating to Bitcoin,” Lazet said.“What can be easily seen is that the (far) majority of the trading volume relates to Bitcoin, and similarly the Bitcoin trading volume is largely done against USDT.

As BTC declined through January and into March 2025, several red bars — representing USDT burns — appeared on the chart.Dec.26, 2024: A major USDT burn of $3.67 billion occurs just after Bitcoin drops from around $106,000 to $95,713.Dec.30, 2025: A smaller burn of $2 billion follows as Bitcoin continues to decline toward the $92,000 level.Jan.10, 2025: A $2.5-billion USDT mint occurs before Bitcoin rebounds to over $106,000.Feb.28: Another $2 billion in USDT is burned following a month-long decline from Bitcoin’s six-digit peaks to around $84,000.