CryptoQuant: Bitcoin's rally may be constrained by the market value of stablecoins
On July 18th, CryptoQuant analysts pointed out that "the liquidity of stablecoins may limit the potential for a significant increase in the future price of Bitcoin. The market value of stablecoins has not yet fully increased, especially USDT, which is key to further increases in Bitcoin prices." The company added in a statement on Wednesday, "Although there have been some positive trends in the market value of stablecoins, the monthly growth of USDT's market value is still close to zero, which still suppresses the potential for further increases in Bitcoin prices."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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