<h2>TUSD may have played a big role in Bitcoin's recent upswing</h2>
The crypto community has expressed interest in and debate regarding the recent price rise of Bitcoin (BTC). Emerging data suggests that TUSD, a <a href="https://www.cryptoknowmics.com/news/the-tether-stablecoin-is-becoming-a-haven-for-turkish-investors/" target="_blank" rel="noopener">stablecoin</a>, may have played a significant role in contributing to Bitcoin's upward momentum. Some have attributed the rally to factors such as Blackrock's ETF or a short squeeze. Since 2018, there have only been three significant increases of over $1 billion in the circulating supply of TUSD. These events occurred in May 2021, February 2023, and June 2023, respectively. Surprisingly, Bitcoin experienced a rally within a short period of time following each surge.

[embed]https://twitter.com/CryptoVizArt/status/1671913238844305408?s=20[/embed]
<h2>Binance's TUSD dominates after BTC, Ethereum reach multi-billion-dollar levels</h2>
Tron currently controls 76.45 % of the total supply of TUSD, followed by Ethereum, which controls 22.5 %. The overwhelming dominance of Binance is evident when the supply of TUSD is distributed among the various exchanges and is examined in greater detail. An intriguing trend emerged when analyzing the trading volumes of the top three BTC spot trading pairs. The fact that BTC/TUSD traded more frequently than BTC/USDT demonstrated TUSD's growing dominance as a trading pair. Ki Young Ju, CEO of CryptoQuant, suggested that TUSD is moving in the same direction as USDT. TUSD appears to never again work as a direct exit ramp for switching digital currencies over completely to fiat. However, off-ramping TUSD to other cryptocurrencies via a variety of exchanges is still possible. The expanding supply of TUSD may continue to have an effect on the market, despite the fact that the rate at which new USDT are being issued has slowed down in comparison to the rate at which they are being redeemed.

[embed]https://twitter.com/ki_young_ju/status/1671991683041607682?s=20[/embed]
<h2>GreeceLive: 31,000 BTC put options have maximum pain point of $27,000</h2>
According to GreeksLive, traders are currently facing the impending expiration of 31,000 BTC options with a Put Call Ratio of 0.73, a maximum pain point of $27,000, and a significant notional value of $930 million. Trading sentiment is bullish, as this data indicates a relatively higher demand for calls. Participants in the market pay attention to the maximum pain point because it may have an impact on their trading decisions. The expiration of these BTC could increase market volatility and potential price fluctuations due to the significant notional value involved.

Understanding TUSD's Impact on BTC Rally: The How and Why

Explore the relationship between TUSD and BTC rally, unraveling the factors and mechanisms behind TUSD's influence. Gain insights into the crypto market dynamics.

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Understanding TUSD's Impact on BTC Rally: The How and Why

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