The two do not disagree about the volatility and volatility of Bitcoin, so many traders turn to the Tether (USDT) currency, which is considered a refuge for traders to avoid more volatility, especially negative ones.

Recently, with the price of Bitcoin rising above $15,000, greed has risen to higher levels as per the Fear and Greed Index shown below.

Coinciding with the bitcoin price rally, the trading volume of the stablecoin Tether (USDT) has declined, dropping by nearly 4%.

The digital stablecoin Tether also fell to $0.99 for the first time in 30 days.

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The drop in trading volume also reflects the declining market cap of Tether, as it is possible that stablecoin owners who previously deposited their funds in Tether (USDT) have offloaded their Tether wallets and converted them to Bitcoin, after Bitcoin rose above $15,000.

Bitcoin has been very volatile over the past two weeks and reached record levels not reached since January 2018, which has taken the greedy index to the same level as it had reached in June 2019.

When investors start getting greedy, the Bitcoin market is likely to be on the cusp of a correction.

Such a correction may approach with the rise in the fear and greed index to record levels, i.e. reaching the level of 100.

The closest level to the Fear and Greed Index in the past two years was 96.

The data provided by CryptoQuant As Bitcoin rises to new levels, selling pressures are accumulating, and inflows to trading platforms such as Binance are also increasing.

These inflows may be driven by miners who haven’t sold over the past three months.

This is among the 97% of former bitcoin holders making a profit at the moment:

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97% of Bitcoin Addresses Make Profits As Bitcoin Approaches $16,000

The “HODLers” face the dilemma of whether to keep the bitcoin or sell and make an immediate profit.

But if Bitcoin reaches a new record, they may lose the expected gains.

Read:UK finance ministry calls for regulation of stablecoins

While many speculators rely on short trades where they sell Bitcoin against Tether and wait for it to drop and buy again, meaning that the digital stablecoin Tether is considered the port that traders resort to when Bitcoin fluctuates and fluctuates.

For information, in the Arab Bitcoin group for buying and selling digital currencies, we provide the ability to buy and sell Tether USDT to access the group from the link.

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