BTC near $70K, investors and analysts debate the factors driving the price increase 📈

- Ki Young Ju from CryptoQuant stated that the supply of stablecoins is increasing but is not enough to push the price of BTC higher.

- The BTC/Stablecoin ratio on exchanges is currently 6 times.

- Only 21% of stablecoins are held on exchanges for trading, down from 50% in 2021.

- Stablecoins are increasingly being used as a store of value and for remittances, especially in high-inflation countries like Venezuela, Argentina, Brazil, Colombia, Mexico, and Turkey.

- ETFs and USD liquidity from Coinbase will be very important in the coming months.

- Dean Skurka from WonderFi emphasized that the interest of large institutions will be a positive factor for the price of BTC.

What do you think about the future of BTC? Comment below! 💬