Bitcoin Recovers Back To $57,000: Here’s What Could Be Behind This
Submitted by Anonymous (not verified) on Wed, 09/11/2024 - 03:50Bitcoin has surged in the last 24 hours with its price recovering back to $57,000.
Bitcoin has surged in the last 24 hours with its price recovering back to $57,000.
On-chain data shows some indicators related to the stablecoin supply have set new all-time highs recently, a sign that may be bullish for Bitcoin.<
On-chain data shows the stablecoin market cap has returned to positive growth recently, which can be bullish for Bitcoin.
On-chain data shows that stablecoin exchange inflows have seen a sharp drop recently. This could be bearish for the Bitcoin price.
On-chain data suggests the whale entities have bought up around 5% of the supply of the major stablecoins over the past three weeks.
On-chain data shows the Bitcoin Exchange Stablecoins Ratio has plunged to its lowest since March 2023. Here’s what this could mean for BTC.
On-chain data shows the stablecoin supply has surged alongside Bitcoin’s latest break above $50,000, a sign that could be bullish for the market.
On-chain data shows stablecoins have recorded more than $4 billion in inflows in the past month. Here’s why this could be relevant for Bitcoin.
Data shows the stablecoin sector as a whole has continued to observe net outflows recently, but Tether (USDT) has only expanded further.
Here’s what data suggests regarding which of USD Coin (USDC) and Tether (USDT) do institutional stablecoin investors prefer.
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