Once again, there is no denying the strong correlation between Bitcoin price action and the stablecoin market cap. As you can see from the chart, every time the 60d market cap change values peak, Bitcoin also peaks locally or globally. In this case, the encouraging factor is that the 60d market cap change has not fallen below its 60-d change-SMA, which indicates that the current correction is a knockout of weak hands from the market and a logical cooling before the further run.
Written by BaroVirtual
