🚀 $1.24 billion USDC inflow, is the Bitcoin crazy bull market just the beginning? 📈
Analyst Maartunn revealed yesterday through a post on X that $1.24 billion USDC surged into spot exchanges on Friday, marking the largest single transaction we've seen in over six months! Does this mean a new round of Bitcoin's rise is about to come?
Looking back at Tuesday's market, Bitcoin had set a new historical high and then experienced a significant pullback of about 15%, a rollercoaster ride that kept people on edge. However, at 6 PM on Friday, this large inflow of USDC may indicate that smart money is preparing for the next wave of rebound!
Bitcoin's current price is around $96,888, showing a strong rebound from a low of $92,000. If the daily chart can hold the key level of $98,520, the upward momentum may continue. But if it cannot break through the $100,000 barrier in the coming days, caution is advised, as the market might see this as a signal of weakening upward momentum.
Currently, the activities of Bitcoin whales are becoming more frequent, which is usually a precursor to changes in market sentiment. If these large inflows can translate into purchasing power, a perfect storm of rising demand and prices may be on the horizon. Conversely, there is a potential downside risk.
Additionally, chart analysis shows that the supply of Bitcoin short-term holders (STH) has reached a new high of 5,439,700 coins in 40 months. This increase typically aligns with historical trends of rising STH supply during bull markets, possibly marking the end of the long-term declining trend in STH supply.
🕒 The next few days are crucial for Bitcoin. Will it continue to rise or face a correction? We'll wait and see, but remember, contract leverage carries risks, so be mindful of position control!
