2024

Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>CryptoQuant analyst predicts Bitcoin’s swift departure from the $70K threshold.</strong></li> 
 <li><strong>The analyst expressed this view amid surging liquidity inflows via stablecoin.</strong></li> 
 <li><strong>Tether injected $2 billion into the crypto market last week.</strong></li> 
</ul> 
<p>Crypto Dan, a researcher at data analytic firm CryptoQuant, believes <a href="https://coinedition.com/what-is-bitcoin-everything-you-need-to-know/">Bitcoin</a> will not remain around the recently attained $70K threshold much longer. Crypto Dan expressed this sentiment after observing the heightened level of liquidity flowing into the <a href="https://coinedition.com/market/">crypto market</a> recently. The researcher noted that the liquidity inflow has not been for Bitcoin alone but for altcoins as well.</p> 
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   <p lang="en" dir="ltr">Crypto Market Liquidity Surges, Surpasses All-Time High<br><br>“The increase in stablecoin supply can indicate purchase demand not only for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> but also for other coins, and to that extent, the current market atmosphere can be interpreted as positive.” –&nbsp;By <a href="https://twitter.com/DanCoinInvestor?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@DanCoinInvestor</a><br><br>Link… <a href="https://t.co/mSzvkmbOog" target="_blank" rel="nofollow">pic.twitter.com/mSzvkmbOog</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1767273084791263544?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">March 11, 2024</a>
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<p>In particular, the graph accompanying CryptoQuant’s update underscored that the demand for stablecoin is gradually reaching levels that were last observed in 2021. This trend is illustrated by the <a href="https://coinedition.com/will-the-new-2b-usdt-injection-influence-more-market-momentum/" target="_blank" rel="noreferrer noopener">recent…</a></p>
<p>The post <a href="https://coinedition.com/bitcoin-set-to-surge-following-the-demand-for-stablecoins/">Bitcoin Set to Surge Following the Demand for Stablecoins</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin Set to Surge Following the Demand for Stablecoins

Coin Edition

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