In fact, I have been studying the impact of the exchange rate between USDC and USDT on the market since 2021. At that time, there were four mainstream stablecoins, as well as DAI and BUSD. I didn't mention the latter two. I randomly marked several time points of exchange rate changes, and it was clear that there was no 100% correlation between the rise and fall of exchange rates and the price changes of BTC. That is to say, whether the exchange rate rises or falls, the price of Bitcoin can change, because USDC is