CryptoQuant: Bitcoin's rally may be constrained by the market value of stablecoins

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Cointime2024/07/18 03:37

By:Cointime

On July 18th, CryptoQuant analysts pointed out that "the liquidity of stablecoins may limit the potential for significant future price increases in Bitcoin. The market value of stablecoins has not yet fully increased, especially USDT, which is key to further price increases in Bitcoin." The company added in a statement on Wednesday: "Although there have been some positive trends in the market value of stablecoins, the monthly growth of USDT's market value is still close to zero, which still restricts the potential for further price increases in Bitcoin."

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