As Bitcoin Supply Tightens, Could A Breakout Be On The Horizon?

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As Bitcoin Supply Tightens, Could A Breakout Be On The Horizon? - NewsBTC

Quick Summary:

Increase in USDT stablecoin holdings on exchanges since August "When stablecoins flow into exchanges and increase their holdings, it is generally interpreted as funds waiting to buy, which will have a positive effect on the price.” – By @Yonsei_dent Link 👇… pic.twitter.com/wsrY0rCFaC — CryptoQuant.com (@cryptoquant_com) September 10, 2024 Stablecoins are easily accessible pool of money ready for swift deployment.

The backdrop created by declining reserves on exchanges, rising stablecoin liquidity, and consistent withdrawal patterns should help to support notable price rises.

Related Reading: AAVE Excites Investors With 20% Gain As Developments Roll Out Declining Bitcoin Reserve Reserves of Bitcoin on exchanges have been declining drastically.