[ouiouibaguette]

Exchanges and whales manipulate Bitcoin's price regularly through spoofing and wash trading to build up illusions of optimism/"bullishness" and then sell off suddenly to profit off the rubes who bought into the hype.

Also - how much actual real-world money backs a USDT? When Tether comes undone and people realize there is only a suitcase of IOUs, there is going to be a run for the exits and BTC will sell at a huge discount.

Real world commodities don't have that problem.