16.17 million BTC holdings hit a record high, is Bitcoin bullish in sight?
Bitcoin is a big positive! Long-term bullish situation may start! !
I guess you want to know about the future development trend of Bitcoin. Some key Bitcoin participants predict a long-term bullish situation because the number of wallets holding 10 or more Bitcoins has accumulated a record 16.17 million Bitcoins, indicating that the supply of the Bitcoin market is decreasing. Ideally, if the purchasing power (dry powder) of Tether and USD Coin holders increases, it may open the floodgates for the next bullish wave in the cryptocurrency market.
Tether (USDT) and USD Coin (USDC) are two digital assets targeting the stablecoin market. Stablecoins play an important role in the digital currency market. On the one hand, they can serve as a price reference standard for trading cryptocurrencies, and on the other hand, they can serve as a hedging tool for funds. Of the two stablecoins, USDT and USDC are more common. The value background of USDT is that each of its tokens is equivalent to the US dollar, which is the biggest difference between USDT and other digital currencies. The value background of USDC's promise is that each USDC token is backed by the US dollar at a ratio of 1:1.
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