Bitcoin (BTC) is currently in a range of $ 116,000 to $ 120,000. However, fresh liquidity with two billion dollars in Stablecoins can help push the main encryption currency to the highest levels (ATHS).
Bitcoin to take advantage of fresh liquidity
According to A Cryptoquant Quicktake Post by the Amr Taha shareholder, more than two billion dollars from Stablecoins – primarily – on USDT – on the main derivative trading platforms earlier today.
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Taha believes that this increase in flow signals increased appetite for the use of experienced traders, many of whom expect a possible outbreak in the BTC price. It is worth noting that this fresh batch of USDT was promoted by Tether Treasury, indicating that institutional demand pays activity.
Historically, Stablecoin flows have been widely preceded by the ups of the upscale market, as traders often use them to open long -standing positions on Bitcoin, Altcoin and permanent contracts. The fast Stablecoin sediments often work in derivative exchanges as a pioneering indicator of major price pools.
Meanwhile, his Cryptoquant colleague pointed out to the high open interest, noting that he is increasing beside the BTC price – a classic sign of strong bullish feelings.
To clarify, the open interest in synonyms usually indicates a high price of bitcoin, however, it can also indicate the accumulation of the leverage, which may lead to increased fluctuations or severe correction if the feelings are shifted.
The analyst also highlighted the Coinbase Premium, which remains higher than zero-a sign that buyers in the United States are paying as well as global instant prices. They added that the index is currently inside the “crushing” structure, where the next chart will participate in the context.
Tradeoasis noticed that despite the high price of BTC, the Coinbase Premium index remained relatively constant. The analyst explained:
This indicates that the main players get profits. If the descending trend structure you have distinguished with an arrow is broken, the price is likely to rise more strongly. On the other hand, if the index decreases below the “0” level, then I consider it a purchase sign, because we are still in a upscale market.
The short -term retreat of BTC?
While Stablecoin injections worth two billion dollars are likely to serve as a bullish incentive for BTC and the broader encryption market, some exchange data Suggest A possible decline in the short term before the next stage.
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For example, BTC exchange deposits Rise After digital assets significantly reached about $ 123,000 – a pattern often precedes local summits and is followed by price correction.
However, although profits recently achieved, BTC has Inexperienced A significant decrease in prices, referring to the basic strong demand. At the time of the press, BTC is trading at $ 119171, an increase of 2.4 % in the past 24 hours.
A distinctive image of Unsplash, plans from Cryptoquant and TradingView.com
