Bitcoin has registered a notable 6.54% gain over the last 24 hours, reaching a press-time trading value of $93,684. This price surge comes amid a broader backdrop of weakened demand, lower momentum, and dwindling market liquidity. Yet, a surprising development may serve as a lifeline for the leading cryptocurrency — the sudden injection of $1 billion in USDT (Tether) into the market.

While Bitcoin’s price is climbing, market demand for the asset tells a different story. According to data from CryptoQuant, Bitcoin’s spot market demand fell by 146,000 BTC over a recent 30-day period, amounting to a $13 billion decline. This reduction is still less severe than a previous drop of 311,000 BTC recorded in late March. Nevertheless, it underlines a persistent weakening in investor appetite.

A closer look at demand momentum — a metric comparing buying interest between new and seasoned investors — reveals that the market is experiencing its lowest influx of new capital since October 2024. Both new and old investors are demonstrating caution, with the former showing limited participation and the latter beginning to offload holdings.

This caution is also evident in the U.S. spot Bitcoin ETF space. CryptoQuant reports that since March 2025, ETF inflows have stagnated, oscillating between a net flow of -5,000 BTC to +3,000 BTC. This is a far cry from the more bullish sentiment seen between November and December 2024, when ETFs saw daily purchases of around 8,000 BTC. In 2024, by this same time, the net flow stood at +208,000 BTC — in 2025, it’s -10,000 BTC.

Another red flag for a sustained rally is the current state of market liquidity. CryptoQuant indicates that overall liquidity has dipped below the 30-day average. Liquidity, crucial for facilitating large trades without sharp price movements, often aligns closely with strong market trends. Without it, even bullish momentum can lose steam quickly.

Despite these challenges, one development could act as a turning point: the growing presence of stablecoins, especially USDT. Over the past 60 days, the supply of USDT has expanded by $2.9 billion. While this increase is shy of the $5 billion threshold typically associated with strong Bitcoin rallies, it still signals that capital is being primed for potential deployment into digital assets.

The key change, however, occurred in the last 24 hours when $1 billion in new USDT was minted — a sign of increasing market readiness and investor interest. This fresh capital, if actively deployed, could revive liquidity and fuel renewed demand for Bitcoin, further fueling its recent rally.

This sudden increase in stablecoin liquidity has historically preceded periods of price growth for Bitcoin. Traders often use USDT to move in and out of crypto positions quickly. So, a surge in supply often implies that more participants are gearing up to buy — or are already buying — digital assets.

Sector-wide dynamics may also support Bitcoin’s case. As the crypto market regains upward momentum, speculative capital tends to flow into established and dominant assets first — and Bitcoin remains the go-to for large-scale investment during uncertain or transitional phases.

If the inflow of stablecoins continues, it may reverse the current trend of declining demand. Bitcoin’s current rally could be more than just a technical bounce; it could represent the start of renewed investor optimism. However, this hinges on whether additional capital enters the market in significant amounts and if broader sentiment begins to shift from caution to confidence.

In conclusion, Bitcoin’s price is climbing even as core demand metrics remain subdued. Yet, the sudden influx of $1 billion in USDT might signal a pivot in sentiment. If this increase in liquidity translates into active market buying, it could mark the beginning of another bullish leg for Bitcoin in 2025.