What role did Tether play in Bitcoin’s recovery?

Bitcoin faced a massive setback on the 21st of January after the asset dropped below $29,000 for the first time since 3rd January. At press time, Bitcoin had recovered back above $33,000 but there was one particular narrative that was picking up more steam in the current bullish landscape.
Leading with the facts, stablecoin inflows to exchanges during a Bitcoin dump was evident in 2021. According to a recent report by Santiment, the timeline of every dip has been highlighted in the chart below, and USDT registered massive exchange inflows during the same time.
Source: Santiment
The report su