Gold falls, Bitcoin rises: $1B USDT mint signals a major shift
The post Gold falls, Bitcoin rises: $1B USDT mint signals a major shift appeared on BitcoinEthereumNews.com.
Key Takeaways What’s driving the shift from Gold to crypto? Gold’s 6.8% crash—its steepest in 12 years—coincided with Tether minting $1B USDT, suggesting investors are reallocating capital into digital assets. How are institutions reacting to this market shift? Institutional investors poured $619M into Bitcoin and Ethereum ETFs, showing renewed confidence in crypto despite broader market volatility. The crypto market has remained choppy in recent days, marked by increased outflows from investors. For context, total market capitalization, which reached a record $4.27 trillion on the 6th of October, has dropped more than 16% to $3.59 trillion—wiping out nearly $1 trillion in value. However, sentiment appears to be shifting following major market moves in the past day. As investors exit Gold, Bitcoin [BTC] and Ethereum [ETH] are seeing renewed support. Gold’s decline opens a new door for crypto Tuesday, the 21st of October, came as a shock to many traditional investors. Gold, after hitting a record high of $4,381 per ounce on Monday, plunged 6.8%—its sharpest drop in 12 years—signaling a sudden change in investor sentiment. The traditional safe-haven asset traded at $4,036 at press time, trending downward and showing signs it could retreat toward the $3,000 range. Interestingly, this outflow coincided with a massive inflow into the crypto market. Tether, the issuer of the USDT stablecoin, minted an additional $1 billion worth in the past 24 hours. Source: Lookonchain Since the 11th of October—the start of the recent market downturn—about $7 billion worth of USDT and USDC stablecoins have entered circulation. Such an increase in stablecoin supply typically indicates stronger demand from crypto investors, either to hedge against volatility or to prepare for buying opportunities in major cryptocurrencies. While AMBCrypto could not confirm whether this was primarily a defensive or accumulation move, traditional investors appear to have already made their choice.…
