[1]https://info.uniswap.org/#/pools/0x7858e59e0c01ea06df3af3d20...
The question then becomes what happens tomorrow. Are people going to try to get out of the Tether that they've jumped into today by going to BTC or USD? If they go to BTC, then no problem, the price goes back up (some). If they try to go to cash, BTC keeps dropping. Tether's value doesn't have to crash for the Tether machine to stop running and cause a BTC crash. Though, at some point in the process it would start dropping, and that would then cause a further BTC price drop.
Edit to add: It's part of the cycle of educating society, it'll be painful and costly to those who were left holding the bag - a mob of potentially 100s of millions of people financial aligned hoping they can get more of society convinced of their ideology of Bitcoin's supposed exclusive value.
The price of Bitcoin went up, from about $5200 to $11,000. Why? Because with Tether out of the picture, Bitcoin is the next most stable cryptocurrency (at the time, there was not enough DAI or USDC in circulation to absorb all the Tether money, though those "stablecoins" traded at a premium of about $1.06/$0.92 against Tether). If you're in the cryptocurrency ecosystem, it's usually because you don't want to keep any of your wealth in $USD, so when Tether was declared insolvent all of the money there rushed into BTC.
