đđ BTC enthusiasts, buckle up! After a quiet spell post-halving, Bitcoin may be ready to make some noise again! đ
CryptoQuant has spotted a serious spike in the volume of stablecoins entering the market. These inflows often correspond with movements in Bitcoinâs price, hinting at potential volatility ahead. đđ°
BTC has had a rocky ride since dropping below its 2021 all-time high of $69,044 in April. The initial excitement over US spot exchange-traded funds (ETFs) has cooled, slowing Bitcoin's climb. But don't lose heart! đđ«
Increased liquidity in the market, marked by a notable increase in stablecoin inflows, could be a game-changer. This influx can impact the supply and demand dynamics of Bitcoin, potentially leading to increased price volatility. đđž
In fact, Bitcoin had its largest single-day increase in nearly two months this week, surging by almost 8% to $66,400! This was spurred by contradicting US economic data, increasing the likelihood of the Federal Reserve easing monetary policy through rate cuts. đđ”
Crypto trading firm QCP Capital suggests that this bullish momentum could push BTC towards retesting its previous highs of around $74,000. đđ
Moreover, there's been a significant increase in buyers of 100-120k BTC Calls for December 2024, indicating growing confidence in Bitcoin's value. Institutional demand remains strong, with major asset managers like Millenium and Schonfeld allocating approximately 3% and 2% of their AUM into the spot Bitcoin ETF. đŠđŒ
All these factors paint a bullish picture of BTCâs potential breakout. So, is Bitcoin ready to soar again? Only time will tell! â°đź
