Bitcoin (BTC) spent most of the weekend with depressed prices around $7,300, only to rally again, early on Sunday, recovering within hours to the $7,900 range and later returning to $8,000. One of the reasons was the change of sentiment on BitMex, where derivatives trade at a premium.
The recent rally happened with volumes above $20 billion in 24 hours. This time, the share of Tether (USDT) expanded, from around 62% in the past days to more than 72% on Monday. The stablecoin still sees a significant turnover, supporting the liquidity on the markets.
What is even more curious is that in the past few weeks the usual USDT premium of up to $300 has disappeared, and currently, the dollar price of BTC is even slightly higher compared to the USDT price.
The recent price rally also boosted Ether...