Stablecoin

Rally

Bitcoin ETF

Bitcoin

USDC

<ul>
  
 <li>Bitcoin surged 10% this week, driven by $2.5 billion in stablecoin inflows and increased institutional investments.</li>   
 <li>Tether minted over $1 billion USDT in 24 hours, boosting Bitcoin's price past $61,000.</li>   
 <li>Goldman Sachs invested $418 million in Bitcoin ETFs, signaling rising institutional demand.</li> 
</ul>   
<p>A significant rebound has been seen this week for both the cryptocurrency market as a whole and for Bitcoin, with the price of the latter rising above $61,000. Stablecoin inflows have been very strong over the last week, which is largely responsible for this 3% increase.&nbsp;</p>   
<p>A recent spike in the issuance of stablecoins, especially USDT and USDC, suggests that new capital may be entering the crypto market. Consequently, traders of Bitcoin are keeping a close eye on these developments in anticipation of a potential bullish effect on the market.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/spotonchain/status/1823538940697354516 
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<h2 class="wp-block-heading" id="h-stablecoin-issuance-boosts-market-confidence"><strong>Stablecoin Issuance Boosts Market Confidence</strong></h2>   
<p>Tether and Circle have significantly increased the issuance of USDT and USDC stablecoins. This pattern raises the possibility that institutional investors are <a href="https://cryptonewsland.com/usdt-supply-soars-amidst-bitcoin-consolidation/" target="_blank" rel="noreferrer noopener">getting</a> ready to add more funds to the cryptocurrency market.&nbsp;</p>   
<p>Stablecoin inflows of $2.5 billion over the last week may have played a significant role in the recent short covering of Bitcoin. Furthermore, the recovery of the larger cryptocurrency market has paralleled that of Bitcoin, with Ethereum dominating the altcoin space.</p>   
<h2 class="wp-block-heading" id="h-institutional-demand-for-bitcoin-grows"><strong>Institutional Demand for Bitcoin Grows</strong></h2>   
<p>Increase in inflows into spot Bitcoin exchange-traded funds (ETFs) is more proof of the growing interest in Bitcoin among institutional investors. Notably, in the second quarter, Goldman Sachs revealed a $418 million investment in Bitcoin ETF products. This action demonstrates how institutions are becoming more interested in Bitcoin as an asset class.&nbsp;</p>   
<p>Money flows had stopped since April 2024, which caused a correction in the price of Bitcoin. Nonetheless, the market has benefited from the recovery in money flows brought about by growing USDT and USDC supply.</p>   
<h2 class="wp-block-heading" id="h-signals-for-positive-momentum"><strong>Signals for Positive Momentum</strong></h2>   
<p>Tether has made over $1 billion in USDT in the last day, which bolsters the positive momentum in the cryptocurrency market. After that, these stablecoins were moved to centralized exchanges like Kraken, Coinbase, and Binance.&nbsp;</p>   
<p>Bitcoin's weekly gain has been fueled by the inflow of liquidity, which has strengthened the recovery of the market as a whole. The macroeconomic events that take place this week will be very important in determining how the cryptocurrency market develops in the future.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-traders-anticipate-rally-amid-2-5b-usdt-and-usdc-inflows/">Bitcoin Traders Anticipate Rally Amid $2.5B USDT and USDC Inflows</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin Traders Anticipate Rally Amid $2.5B USDT and USDC Inflows

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