Bitcoin Smashes Past $110K—Nails 98% of All-Time High as USD-USDT Spread Collapses

Bitcoin just ripped through $110,000 like a hot knife through institutional FUD—now sitting a hair’s breadth from its historic peak. The gap between USD and USDT pairs? Squeezed tighter than a hedge fund’s risk management budget.

Market Mechanics at Work

Liquidity’s flooding back as traders ditch stablecoin proxies for the real deal. No more playing hide-and-seek with premiums—this is the market voting with its wallet.

Wall Street’s Watching

That ‘2% to ATH’ marker isn’t just a number—it’s a flashing neon sign for institutional algos. Watch for the usual suspects (read: boomer capital) to FOMO in right at resistance like clockwork.

Closing Thought: Nothing brings ‘price discovery’ into focus like watching Tether pairs finally stop pretending they’re not the tail wagging the dog.

While a 0.03% spread might seem trivial, it accumulates across billions in notional volume. On a day with $10 billion traded, the gross opportunity from such a spread amounts to $3 million. The data shows that even as the market moves with near-mechanical efficiency, there are still slivers of information in how fiat and stablecoin pairs diverge, especially during high-velocity moments like today’s breakout above $110,000.