Tether's market capitalization hits record high - a sign of ”Uptober”?

The stablecoin Tether (USDT) has surpassed a market capitalization of $120 billion (approximately 17 trillion yen) for the first time in history. On the 20th (local time), according to the Tether website,
The report said the market capitalization had surpassed $120 billion, ending a seven-month decline and creating an "Uptober."
Uptober is a compound word of "Up" and "October."
Historically, this means that Bitcoin tends to rise in October. An increase in USDT supply could trigger the next Bitcoin rally. On August 5, Bitcoin price rose to 5.
As it surpassed its month-low of $49,500, Tether issued $1.3 billion in USDT in five days. Thanks to the $1.3 billion USDT issued by August 9th, Bitcoin
The cryptocurrency has recovered more than 21% from its low on August 5 to trade at $60,271. The increase in stablecoin supply is likely a sign that investors are preparing stablecoins before investing in crypto assets.
It is often used as a signal to foresee the rise of crypto assets. Looking at Tether’s fund flow, a significant amount of funds are concentrated in a few large centralized exchanges (CEXs).
The inflows suggest that investor buying pressure is imminent.
According to data from Bitcoin Intelligence, $66 million worth of Tether funds were transferred to stave cryptocurrency in the past 48 hours.
LeCoin was sent to Binance, while over $20 million in USDT was sent to the Kraken exchange.
Conversely, when stablecoins experience a lack of inflows, they often lead to market crashes.
On August 12, the price of Bitcoin fell below the psychological floor of $60,000 and dropped by about 4%, as institutional investors temporarily stopped buying USDT.
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