What many people believe is that there's not anywhere near the demand to justify a 35 K USD price and that's it's tether printing which pumped the price of BTC

What many people believe is that there's not anywhere near the demand to justify a 35 K USD price and that's it's tether printing which pumped the price of BTC to these levels. So if the tether printing press stops, the price would crash back to 3K USD or something in a hurry. Crypto investors/gamblers concerned about tether/USDT already own zero USDT. What they're concerned about is that it would take the entire crypto market down. Now on the very short term it may cause a BTC price spike: should it be true and USDT going down a lot, people hodling them may desperately try to get out and buy any BTC they can, shortly raising BTC's price. But if tether is the reason the BTC price is so high, it won't take long before "zero new issuance of USDT to pump the price" would totally crash the market. In any case it's an interesting story to follow...