Now it’s at $219B and still rising, suggesting we’re likely still mid-cycle.”Increasing stablecoin inflows to crypto exchanges can signal incoming buying pressure and growing investor appetite, as stablecoins are the main investor on-ramp from fiat to the crypto world. Still, Ether (ETH) price is down over 52% over the past three months, after it peaked above $4,100 on Dec.16, 2024, and analysts are eying another decline below $1,900, a “robust” demand zone that may bring more investment into the world’s largest cryptocurrency.
Related: Bitcoin needs weekly close above $81K to avoid downside ahead of FOMCCrypto market will likely lack direction ahead of FOMC meeting: analystDespite the rising stablecoin supply, the crypto market may continue to lack direction ahead of next week’s Federal Open Market Committee (FOMC) meeting.
Zlatareva told Cointelegraph:“Bitcoin’s movement below key technical levels, mirroring the S&P 500’s trajectory, highlights the market’s cautious tone as traders await key economic data for direction, including U.S.retail sales and the FOMC meeting.”“All eyes are set on next Wednesday's FOMC meeting, anticipating insights into U.S.monetary policy and potential interest rate adjustments, especially given the recent declines in U.S.
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Author / Journalist: Cointelegraph by Zoltan Vardai
The story "Rising $219B stablecoin supply signals mid-bull cycle, not market top" has 386 words across 14 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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