🚀Hey there, Bitcoin enthusiasts!🚀

🔍CryptoQuant analysts have shed light on why Bitcoin's price has been stagnant since its March peak. The culprit? Tight U.S. monetary policy. It's been reducing the stablecoin supply since March 2022.

📉The overall stablecoin supply started to dip when the Federal Reserve began raising interest rates in early 2022. This has put a damper on Bitcoin's rally.

📊According to the analysts, for Bitcoin to rally in earnest, we need to see an increase in stablecoin liquidity and circulating supply.

💰The U.S. monetary policy has had a significant impact. Although the stablecoin supply started to climb again in late 2023, rates have remained stubbornly high at over 5% for over a year.

🔮The analysts believe that an increase in stablecoin liquidity and circulating supply through more accommodative monetary policy in the U.S. is necessary for Bitcoin to enter a bull market.

📈Bitcoin has been fluctuating between the high $50K level and the low $70K level for the past four months.

🔔In terms of the stablecoin ecosystem, the market cap has been steadily increasing over the past few months, currently standing at $161 billion.

🥇Tether remains the market leader with a market share of almost 70%, and the USDT supply is currently at an all-time high of $112 billion.

🌐In June, Circle CEO Jeremy Allaire predicted that stablecoins could account for 10% of "global economic money" within the next decade or so.

🎯So, Bitcoin lovers, keep your eyes peeled for changes in U.S. monetary policy and stablecoin liquidity! 🚀