Bitcoin (BTC) has made a rapid recovery after the recent pullback that saw prices drop below $50,000, once again approaching $60,000.

This recovery is supported by a key metric that suggests that selling pressure is easing in the Bitcoin market. The “stablecoin exchange rate,” which measures the amount of BTC held in wallets associated with centralized exchanges compared to stablecoins, has fallen to its lowest level since February 2023.

According to data from blockchain analytics firm CryptoQuant, this rate has been on a steady decline since June of last year. “This decrease indicates that fewer investors are converting their BTC into stablecoins, thus easing the selling pressure on Bitcoin. It also indicates that investors are holding on to their BTC in anticipation of future price increases, and that there is an upward trend in the market,” CryptoQuant explained.

Stablecoins such as Tether (USDT) and USD Coin (USDC) are cryptocurrencies pegged to external references such as the US dollar and are often used to avoid price fluctuations of other cryptocurrencies and facilitate trading activities.

The combined supply of these stablecoins has increased by nearly $2 billion to $150.15 billion since the market crash on August 5. Their combined supply is up nearly 30% on a yearly basis, indicating continued inflow of fiat money.

This trend is also consistent with analysts’ positive outlook. “Spot ETFs saw positive net flows on Monday. Bitcoin (+$28 million) and Ethereum (+$5 million) received institutional support despite the weekend decline. Such flexibility could help reduce Bitcoin’s volatility in the long run, even in times of market fear,” said Valentin Fournier, an analyst at digital asset research firm BRN.

FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.

My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.

THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.

Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.

So who can benefit?

Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.

I EXPLAIN IN DETAILED.

My brothers and sisters who have become Binance members without a reference, please listen carefully;

When you do what I say in order, you will receive 10 USDT.

Go to the Futures Section from your application,

On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,

My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.

The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.

So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.

Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.

It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.

WHEN WILL THE REWARD COME?

Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.

You can share this post with your friends in need so that they can also benefit from it.

IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.