Stablecoins See Positive Momentum: Will This Lead To New Bitcoin All-Time High?
USDT and USDC have experienced recent capital inflows, indicating potential bullish trends for Bitcoin. The market cap of USDC has sharply increased over the past 30 days, while USDT initially dipped but has since returned to positive growth. Both stablecoins are currently seeing rising market caps, which historically correlates with positive movements in Bitcoin and other volatile cryptocurrencies. Investors typically convert stablecoins to Bitcoin, suggesting that the recent inflows into USDT and USDC are fresh capital, as Bitcoin's price has remained stable. The number of stablecoin deposits on centralized exchanges is flat, indicating no significant large-scale buying of Bitcoin at this time. Bitcoin's price is approximately $104,800, reflecting a 1% decline over the past week.
