Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
#BitcoinRalliesOver5Percent
Bloomberg Analyst Says Stablecoin Dominance Could Threaten Bitcoin's Position
Senior Bloomberg analyst, Mike McGlone, projects that the market capitalization of stablecoins like Tether (USDT) could threaten Bitcoin's (BTC) dominance. He made this statement to U.Today on Sunday (6/7) following the phenomenon of USDT's market cap surge, which temporarily surpassed Ethereum to become the second-largest crypto asset amid recent market sell-offs.
According to McGlone, the massive growth of USDT is part of the natural evolution of the crypto market and not just an anomaly for now. He assesses that the dollar-based stablecoin is no longer just a trading tool but has expanded into a primary payment infrastructure and a store of value for institutional investors.
Contrary to Tether's prospects, McGlone instead offers a very bearish outlook on the future of Bitcoin and other risk assets. He openly describes the recent crypto market rally as a "historical-scale pump action," and warns that sharp corrections will be unavoidable, similar to past economic bubble bursts.
Furthermore, McGlone emphasizes that the mathematical rise in Bitcoin's price will inevitably lead to a major correction as the global macroeconomic landscape worsens. Amid high interest rates that continue to suppress market liquidity, McGlone projects that the potential drop in Bitcoin's price to as low as $10,000 in the long term cannot be ruled out.