Stablecoin

Rally

Bitcoin

Gary

Planet

<div class="intro-text">
 Market analyst Markus Thielen of 10x Research has highlighted a significant uptick in stablecoin issuance that could signal the next major Bitcoin rally.
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In the latest <a href="https://mail.10xresearch.co/p/bitcoin-traders-speculate-potential-bullish-impact-25-billion-stablecoin-inflow" rel="noopener noreferrer nofollow">report</a> published by the investment research firm, Thielen pointed out that the two largest stablecoin issuers, Tether and Circle, issued nearly $2.8 billion worth of stablecoins earlier last week.&nbsp; He noted though this appears to be inventory building rather than immediate issuance, this influx of capital from institutional investors could drive further gains in Bitcoin if the trend continues.
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 “If this trend of issuance (not just minting) continues, Bitcoin could see further gains”,
</blockquote>
he wrote in the report.
Thielen highlighted that since broad money flows essentially paused in early April 2024, the market experienced a price correction, which was expected. However, the recent resurgence of specific money flows has helped lift prices near market bottoms. He emphasised that the sustainability of these flows is critical, as previous rallies have lost momentum without continued support.
He also stressed the importance of monitoring crypto money flows, which are essential for predicting market trends and potential shifts in Bitcoin and other cryptocurrencies.
<blockquote>
 “Monitoring and analysing crypto money flows is crucial for assessing market conditions that can act as tailwinds or headwinds for Bitcoin and other cryptocurrencies.”&nbsp;
</blockquote>
Mark Thielen is known for his bold forecasts, especially about events related to the crypto sector. He recently <a style="color: #0000ff;" href="https://defi-planet.com/2024/07/gensler-likely-to-step-down-as-sec-chair-post-biden-era-10x-research-founder-markus-thielen-predicts/" rel="noopener noreferrer nofollow">predicted that Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC), might resign within the first two months of 2025</a>, following the expiration President Biden’s term. Thielen made this prediction in his market report on July 21, speculating that Biden’s decision not to seek re-election could boost the chances of Donald Trump’s return to the White House. Thielen anticipates a Trump presidency could create a more favourable environment for cryptocurrencies. His report also hinted at potential bullish developments in the crypto market, fueled by rumours of Trump’s significant moves.
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The post <a href="https://defi-planet.com/2024/08/increasing-stablecoin-supply-may-trigger-bitcoin-rally-analyst/" rel="noopener noreferrer nofollow">Increasing Stablecoin Supply May Trigger Bitcoin Rally — Analyst</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Increasing Stablecoin Supply May Trigger Bitcoin Rally — Analyst

DeFi Planet

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