Shenzhen TechFlow News, on October 9, according to CoinDesk, two important signals have appeared in the cryptocurrency market recently: stablecoin liquidity has reached a record high, and large-scale transactions on the Bitcoin network have increased significantly. These two factors could set the stage for a broad-based rally in Bitcoin (BTC) prices in the coming weeks, potentially sustaining Bitcoin’s October seasonal uptrend.

According to CryptoQuant, as of the end of September 2024, the total market value of stablecoins reached a record high of $169 billion, a year-on-year increase of 31%. This growth was mainly driven by two major stablecoins: USDT's market value increased to nearly $120 billion, accounting for 71%; USDC's market value increased to $36 billion, accounting for 21%. An increase in the market value of stablecoins usually means that more fiat money is entering the cryptocurrency ecosystem in preparation for potential large-scale purchases.

On-chain analytics company Santiment reported a significant increase in “whale transactions” (large transactions) on the Bitcoin network, with on-chain transaction volume reaching $37.4 billion on October 9, the highest in seven months. Additionally, dormant Bitcoin activity increased. An increase in whale trading indicates that large investors are actively participating in the market, while an increase in large transactions may mean that institutional investors are accumulating Bitcoin, which is generally considered a bullish signal. Dormant Bitcoins returning to circulation may indicate that long-term holders are becoming active, which is often associated with improving market sentiment.