Cardano

Satoshi

when

USDC

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<p dir="ltr">CryptoQuant analyst Maartunn has taken note of the&nbsp;<a href="https://twitter.com/cryptoquant_com/status/1773680522520142154" rel="noopener noreferrer nofollow">largest influx</a> of the USDC stablecoin in history.&nbsp;</p>
<p dir="ltr">Earlier today, a staggering $1.4 billion worth of USDC was deposited to the Coinbase exchange.&nbsp;</p>
<p dir="ltr">According to Maartunn, this might be a signal of strong buying pressure. Notably, such a massive USDC inflow also occurred in early 2023 when the Bitcoin price was nearing the bottom of the previous bearish cycle.&nbsp;</p>
<p dir="ltr">At press time,&nbsp;<a href="https://u.today/bitcoin-btc-advocate-samson-mow-shifts-some-capital-to-gold" rel="noopener noreferrer nofollow">Bitcoin</a> is trading below the make-it-or-break-it $70,000 level after dropping by nearly 2% over the past 24 hours.&nbsp;</p>
<h2 id="more-bullish-predictions">More bullish predictions&nbsp;</h2>
<p dir="ltr">According to cryptocurrency trader Ali, the largest cryptocurrency has managed to form a head-and-shoulders&nbsp;<a href="https://twitter.com/ali_charts/status/1773670123519250887" rel="noopener noreferrer nofollow">pattern</a> on its 30-minute chart. As predicted by the chartist, the price of the flagship cryptocurrency could potentially surge to a new all-time high of $74,760 if it manages to eventually surpass the key resistance level at $71,580.&nbsp;</p>
<p dir="ltr">Satoshi Flipper, another popular cryptocurrency trader, believes that the flagship cryptocurrency could be on track to reach $80,000. As of now, Bitcoin is in the middle of a "classic retest" of the bullish flag pattern.&nbsp;</p>
<h2 id="the-current-state-of-the-market">The current state of the market&nbsp;</h2>
<p dir="ltr">CoinGlass data shows that the cryptocurrency market has experienced a total of $115 million worth of liquidations over the past 24 hours, with long positions accounting for the vast majority of the sum ($77 million).&nbsp;</p>
<p dir="ltr">The market capitalization of all cryptocurrencies currently stands at $2.77 trillion, down 0.43%. Bitcoin accounts for the vast majority of the sum.&nbsp;</p>
<p dir="ltr">The performance of the top 10 cryptocurrencies has been mostly underwhelming. BNB, however, managed to buck the bearish trend with a 4.7% uptick. XRP and Cardano have also seen minor gains (1.2% and 0.5%, respectively).&nbsp;</p>

Massive USDC Inflows Spur Bullish Sentiment

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