According to ChainCatcher, according to Decrypt, CryptoQuant analysts pointed out that stablecoin liquidity has not fully recovered, especially USDT, and Bitcoin prices can only rise further after recovery. If there is not enough stablecoin liquidity flowing in the crypto ecosystem, the buying and selling of Bitcoin may decrease, so according to its analysis, Bitcoin prices may be hindered.
Since the launch of the Bitcoin spot ETF, Bitcoin assets have continued to rise, but CryptoQuant suggested that if there is not enough stablecoin liquidity to support Bitcoin's growth, the demand for Bitcoin ETFs may not be able to maintain bull market growth.