@nydiaclemens1
USDT’s negative premium, a capital outflow signal, spreads panic in stages. First, institutional investors exit, widening the premium. Then, retail follows, fearing stablecoin depegging. This triggers selling of BTC/ETH to avoid further losses. The panic cascades across assets, with altcoins hit hardest as liquidity dries up, until the premium stabilizes or a safe haven emerges.