币界网报道：Bitcoin's recent surge above $110,000 on certain exchanges has significantly narrowed the spread between USD and USDT trading pairs, now at just 0.2% compared to previous highs of 2-3%. This tightening spread indicates reduced market volatility and improved liquidity, particularly in USDT markets. Analysts attribute this shift to increased institutional participation and growing confidence in stablecoins as reliable trading instruments. The convergence suggests a maturing market where arbitrage opportunities between fiat and stablecoin pairs are becoming less pronounced. This development reflects broader stabilization in crypto markets following recent regulatory clarity and institutional adoption trends.