Bitcoin Rebounds As 1 Billion Tether Go Into Circulation; MATIC, AVAX, Aragon, DUSK See Price Increments

Bitcoin price rebounded to intraday highs of $49,500 on Dec. 15 as the Fed confirms interest rates and a reduction of its bond purchasing policy in 2022. At a Wednesday meeting, Federal Reserve decided to leave interest rates unchanged, keeping them between zero and 0.25%.

Earlier in the day, Congressional Democrats passed a debt ceiling increase and sent it to U.S President Joe Biden’s desk. Once signed by the president, the resolution would increase the debt ceiling by $2.5 trillion.

As regards this, Gemini co-founder, Tyler Winklevoss tweeted ”BREAKING: Senate OKs 2.5 trillion dollar advertisement for bitcoin” implying the impact this could portend for Bitcoin price. BTC was trading at $49,170 as of press time.

1 Billion Tether Goes Into Circulation

According to Whale Alerts, 1,000,000,000 USDT or 1 billion Tether has been minted at Tether Treasury. While analysts remain divided on the impact of Tether supply on bitcoin’s price, some have pinpointed the increasing supply of Tether as a catalyst for bitcoin.

? ? ? ? ? ? ? ? ? ? 1,000,000,000 #USDT (1,000,000,000 USD) minted at Tether Treasuryhttps://t.co/QYL5VkQf0V

— Whale Alert (@whale_alert) December 15, 2021

Investors Seem To Buy Altcoin Dips Harder

In a tweet on Dec. 14, statistician Willy Woo noted that “The last time retail bought the dip this hard was at the bottom of the COVID crash,”. This he implied that the rush for bitcoin now is similar to that of when it plunged to $38,000 in March 2020.

While this likely holds for bitcoin, investors seem to even buy altcoin dips harder. In the last 24 hours, Solana (SOL, +15.95%), Avalanche (AVAX, +27.73%), Polygon (MATIC, +18.54%), Hedera (HBAR, +13.06%), Helium (HNT, +17.67%), Kadena (KDA, +25.18%), XDC Network (XDC, +26.02%), Flux (FLUX, +39.78%), Aragon (ANT, +20.20%), Dusk Network (DUSK, +28.16%) were significantly up.

MATIC continues to attract attention from large investors amid the recent introduction of a burning mechanism. According to WhaleStats data, An ethereum whale just bought 7,410,629 MATIC tokens in four tranches of transaction. Avalanche is up 27.73% in the last 24 hours as investors continued in dip-buying. Aragon (ANT) is set to mark the fifth day in green after the rebound off the $4.08 low on Dec. 10, suggesting a consistent load up by investors despite the recent market volatility.

Also amid the market swings, DUSK rallies to fresh all-time highs of $0.68 on Dec. 15 after six days of bullish price action. Dusk Network describes itself as a blockchain for programmable and confidential securities, powered by Zero-Knowledge proofs and novel Private PoS leader extraction-based consensus protocol.

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