Probably not but it could create a small spark that will affect the current condition therefore it might affect it in longer term as well. As of now USDT is no longer at exactly $1 peg or atleast close to $0.999 or something so this has shaken up the market unconsciously ( $0.9984 at the time of writing and chart is showing that it dip a bit earlier today ). Anything that affects USDT will affect crypto market as a whole as well because most people are currently holding USDT compared to the other stable coins