Bitcoin has maintained its position above $77,000, following a notable surge to its highest level since early February, with a 13.6% gain in April poised to be its best monthly performance in a year. This rebound comes after a prolonged period of decline, with the broader macroeconomic landscape improving and US equities reaching record highs. A significant factor contributing to this growth is the $5 billion increase in Tether's USDT supply over the past two weeks, which has risen to nearly $150 billion.
As a major stablecoin, USDT's expansion is seen as an indicator of capital flowing into the crypto market, potentially driving asset prices upward. However, geopolitical risks persist, and the market's current complacency may be tested by the upcoming Fed meeting, which could determine the sustainability of the current rally.