Bitcoin is declining as regulatory concerns rise; ether is holding support.
Enactment of the bill, if it is passed and signed into law, is still far off.
The changing trading patterns in USDT might be the result of China's recent crackdown on cryptocurrency mining and trading.
Bitcoin is under pressure, although buyers could return for a brief bounce.
Put-call open interest ratio measures the number of open positions in put options relative to calls.
NFT marketplace OpenSea saw record trading volume on Saturday and Sunday as CryptoPunks, ArtBlocks and Bored Ape Yacht Club prices soared.
The weekly chart is holding support and could signal a return of positive momentum this month.
Investors are again HODLing for the long-term, taking liquidity out of the market.
The pullback from Saturday's top to current prices is likely to do with uncertainty around the U.S. infrastructure bill, one expert said.
Since the end of May, tether's growth has gone completely flat.
Stiff price resistance is still seen in the low $40,000 range, but analysts are wondering aloud if the worst of the recent bear market might have passed.
Bitcoin hits its highest level since mid May and has risen more than 15% over the past week.
The token began the day at $18.26 and climbed to $27.56 after the announcement from Binance, according to data from Messari.
Lower support near $34,000 could stabilize the pullback into the weekend.
The "max pain point" for the July expiry was $35,000.