Crypto trader and analyst Michael van de Poppe explains that the current correction in the Bitcoin price is largely due to the fear, uncertainty, and doubt (FUD) surrounding Tether's USDT stablecoin. Speculation has been spreading that USDT may be delisted from European exchanges due to new regulations. However, Tether CEO Paolo Ardoino reassures the community that USDT will not be deemed illegal in the European Union. Despite the correction, van de Poppe suggests that the rotation back up may have already started. The Bitcoin price is currently at $94,630, recovering 2.58% in the past 24 hours. Prior to the Tether FUD, Bitcoin had already dropped below $100,000 after the announcement by Fed Reserve chairman Jerome Powell that the US central banks intends to shrink its dovish activity in the coming year.



Other News from Today