Bitcoin Bull Run Is Far From Than Expected as Stablecoin Inflows Hit All-Time-Low

The post Bitcoin Bull Run Is Far From Than Expected as Stablecoin Inflows Hit All-Time-Low appeared first on Coinpedia Fintech News

Bitcoin’s market sentiment has been consistently bearish over the past few months, with the cryptocurrency facing continuous rejections from local highs. According to CryptoQuant analyst theKriptolik, the latest stablecoin exchange inflows have hit near all-time low levels suggesting a potential for a deeper price drop before investors re-enter the market.

This trend indicates a lack of confidence among investors regarding the end of Bitcoin’s recent downturn.

CryptoQuant analyst theKriptolik hints at one of the key indicators to watch is the flow of stablecoins into exchanges. Typically, after a sharp drop in Bitcoin’s price, investors who view the market as undervalued will move large amounts of stablecoins like USDT or USDC into exchanges. 

Fewer Stablecoin Inflows Hint #Bitcoin Slump Continues

“After a significant drop, we are still not seeing high levels of stablecoin inflows into the market. This data suggests that investors do not yet believe the downturn is over.” – By @theKriptolik

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