Is a new rally brewing as Bitcoin reclaims $38K and stablecoins 'flooding' ex...
Stablecoin inflows into exchanges spiked right as the price of Bitcoin recovered above $38,000, on-chain data shows. The price of Bitcoin (BTC) has extended its recovery on Jan. 14, reclaiming the $38,000 level. What's more, the weekly candle has now turned green for the fifth consecutive week despite the 28% crash earlier this week. BTC/USD Weekly candle chart (Bitstamp). Source: TradingviewMeanwhile, stablecoin deposits are flooding into cryptocurrency exchanges, according to data from CryptoQuant. This inflow may act as a short-term catalyst for Bitcoin as it suggests that sidelined....
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Stablecoins like Tether are flooding crypto exchanges again, potentially pointing at another upward move on crypto markets. Amid renewed bullish action on cryptocurrency markets, stablecoins like Tether (USDT) are flooding exchanges to hit a new historical high in terms of allocation.According to market data provider CryptoQuant, stablecoin holdings on global crypto exchanges broke a new all-time high on Jan. 28, surpassing $4.7 billion.This amount makes up a significant part of the total stablecoin market capitalization, which is estimated at around $35.2 billion at the time of writing,....
Bitcoin has regained critical levels after a week of intense selling pressure, sparking renewed optimism across the market. Despite uncertainty among traders, key on-chain data from CryptoQuant suggests that a new surge may be brewing — provided current momentum continues to build. Related Reading: Stablecoin Supply Begins to Shrink As BTC Reclaims $105K: Liquidity Cooling? […]
Bitcoin faced an extreme correction earlier today. Over the span of 12 hours, the cryptocurrency plunged from the $41,000 region to lows on spot exchanges close to $34,000 and lows on futures exchanges close to $35,000. BTC lost over 15% over the span of this rally. The cryptocurrency has since bounced swiftly to the upside, reclaiming a key support level per analysts. Bitcoin Reclaims Key Support Level After Flash Crash Lower Bitcoin faced an extreme […]
Despite XRP’s continued decline and its struggle to regain the $2 level, one analyst believes the asset is approaching a decisive technical zone that could determine the next rally. A chart breakdown from crypto analyst Egrag Crypto shows that if XRP reclaims key levels above the 200-week EMA, it could strengthen momentum and open the […]
As Thursday drew to a close, Ethereum appears to be slowly regaining strength as the second-largest digital asset stabilizes above the $2,500 level once again. With predictions about an impending major rally swelling in the community, this gradual recovery might be setting the stage for the anticipated bullish move. A Record-Breaking Surge For Ethereum Building […]