At 10X Research, a report was published stating that the cryptocurrency market has been saturated with liquidity over the past few weeks. Over the last month, the issuer of the largest capitalization stablecoin Tether has issued 10 billion USDT, and the company Circle has added another 3 billion tokens to the USDC supply. An increase in the influx of stablecoins to cryptocurrency exchanges is considered a bullish signal. This often leads to increased buying pressure and a rise in asset values, experts explained.
"A massive wave of liquidity is reflected in increased trading volumes, with spot volumes consistently exceeding $200 billion daily. The market capitalization of cryptocurrencies has surpassed $3.2 trillion, which is equivalent to the size of the UK stock market," wrote specialists at 10X Research.
Trader activity in the spot Bitcoin ETF market has increased over the past few days, and buyers expect that the price of Bitcoin will be able to surpass the $100,000 level in the short term, claim the authors of the publication.
"The activity of options in the market expiring in December suggests expectations that Bitcoin will rise to $105,000 or even $115,000 by Christmas," the report states.
According to 10X Research, $100,000 may become just another checkpoint on the way to further growth of the first cryptocurrency.
Previously, experts from Glassnode stated that the sharp rise in the price of the first cryptocurrency is due to both a strong influx of capital into spot Bitcoin ETFs and significant demand for the asset in the market.
