This chart is self explanatory.
I computed tether supply and plotted that with BTC price. There is remarkable similarity between the two. In fact tether supply increase inevitably leads to increase in BTC prices and similarly decrease in tether supply also leads to decrease in BTC prices but at times does not correlate that well. There seems to be some time lags i.e. first tether supply reacts and then BTC prices.
I am still investigating about how to use this in my analysis.
Your comments pls.