Tether has minted $2 billion USDT in two tranches over the past week, coinciding with significant Bitcoin price movements. The first $1 billion was minted on August 15, when Bitcoin hit a new all-time high of $124,000, and the second tranche followed on August 20, as Bitcoin's price retraced to $112,000. This activity aligns with Bitcoin's Fear & Greed Index dropping into 'fear' territory, suggesting potential market volatility. The rapid minting of USDT by Tether could influence Bitcoin's next price movements, as investor positioning around this new liquidity becomes crucial. Despite the market's risk-off stance, Bitcoin's support at $112,000 is under pressure, yet there is still conviction for a rebound. The Fear & Greed Index has returned to neutral, indicating possible market stabilization, while USDT net flows turning positive suggest potential for a price recovery.