Bitcoin Pump

There are signs that something significant might be brewing as this dip continues to attract strong inflows from stablecoins, suggesting that fiat-to-crypto conversions are positioning for higher prices ahead.

The 7-day average minting indicator recently hit its highest level shortly after the August 5 market drop, and it has remained elevated as these inflows persist. This trend could signal growing confidence in an imminent price recovery.

We anticipate that this recent rally could extend slightly but will likely encounter resistance around the $65,000 level. Achieving a more substantial surge would require a significant policy shift or major news event. However, a 10% gain within a month would still represent a solid performance.

While considerable risks are looming in mid-September, our current focus is on the positive momentum of this Bitcoin rally. Historically, every major Bitcoin rally has begun with a tactical advance, setting the stage for potential larger moves.

Enjoy the tactical rebound, and stay tuned for further developments.

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