Tether Adds 961 BTC Amid Market Dip: Bitcoin Price Prediction Targets $170K
The post Tether Adds 961 BTC Amid Market Dip: Bitcoin Price Prediction Targets $170K appeared on BitcoinEthereumNews.com.
TLDR: Tether added 961 BTC worth $97M from Bitfinex during the market dip. Its BTC wallet now holds 87,296 BTC valued at $8.84B. JPMorgan lifted Bitcoin’s fair value target to $170,000. Institutional confidence contrasts with retail market pessimism. Tether reportedly increased its Bitcoin holdings by purchasing 961 BTC worth about $97 million during the latest market downturn. The transaction was detected on-chain over two hours ago, according to data shared by @EmberCN. The wallet, which holds Bitcoin bought with 15% of Tether’s company profits since 2023, typically withdraws funds from Bitfinex only at quarter-end. Following this latest transfer, the wallet’s balance now stands at 87,296 BTC, valued near $8.84 billion. USDT 发行商 Tether (泰达) 在最近的下跌里抄底了 BTC 吗？他们的 BTC 储备地址在 1 小时前从 Bitfinex 提取了 961 枚 BTC ($9718 万)。 这个钱包存放的 BTC 是他们从 2023 年以来用 15% 的公司利润购买的，之前只在每个季度的最后一天从 Bitfinex 提出当季度购买的 BTC。 目前他们的 BTC… https://t.co/Y3dZBa33Br pic.twitter.com/6I54OqNWZB — 余烬 (@EmberCN) November 7, 2025 The purchase follows Bitcoin’s recent correction phase, where traders expressed concern over the potential end of the cycle. However, the move by Tether’s reserve wallet indicates continued institutional accumulation even as market sentiment weakens. Based on withdrawal prices, the average acquisition cost for Tether’s holdings is estimated around $49,121 per BTC. At current prices, the company’s unrealized profit totals roughly $4.55 billion. Wall Street Turns Bullish as Crypto Twitter Fears Persist While Crypto Twitter has been flooded with bearish sentiment, traditional finance appears to be adopting a more positive outlook on Bitcoin. As shared by @CryptosR_Us, JPMorgan recently raised its fair value estimate for Bitcoin to about $170,000 using its gold-based valuation model. The bank argued that Bitcoin is steadily replacing gold as a store-of-value asset, absorbing nearly 1.8 times more risk capital than gold. This projection suggests that Wall Street institutions view current Bitcoin levels as undervalued, in contrast to retail…
Filed under: News - @ November 7, 2025 7:29 am