There’s an argument that the price of Bitcoin is propped up by Tether, a la Archegos. I was initially pretty skeptical, but the caginess of Tether about what commercial paper they hold makes me think it has some credence.
Plus, money has been coming out of Tether and into other stablecoins and what is happening with Bitcoin's price? Yeah, up.
Which studies are you referring to?
https://www.coindesk.com/whats-going-on-with-tether
https://voxeu.org/article/stable-coins-dont-inflate-crypto-m...
https://www.sciencedirect.com/science/article/abs/pii/S01651...