CryptoQuant: Bitcoin's rally may be constrained by the market value of stablecoins
According to BlockBeats, on July 18, CryptoQuant analysts pointed out that "stablecoin liquidity may limit the potential for a sharp rise in Bitcoin's price in the future. The market value of stablecoins has not yet fully increased, especially USDT, which is the key to further increases in Bitcoin prices."
The company added in a statement on Wednesday: "Despite some positive trends in the market value of stablecoins, the monthly growth of USDT's market value is still close to zero, which still suppresses the potential for further increases in Bitcoin prices." (Decrypt)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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