Key Indicator Shows Capital Beginning to Flow Back Into Bitcoin

As the weekend draws near, a renewed flow of capital enters into Bitcoin. Price is currently right under $33K

Key Indicator Shows Capital Beginning to Flow Back Into Bitcoin

“An indicator that has historically marked major price bottoms is pointing to a renewed flow of capital into bitcoin (BTC, -3.31%).

The stablecoin supply ratio oscillator created by analyst Willy Woo and tracked by blockchain analytics firm Glassnode has risen from a 12-month low of -2.6 to -1.9 in the past four weeks.

The recovery indicates capital has been flowing from stablecoins into bitcoin, Glassnode tweeted Thursday. In other words, bargain hunters look to have employed stablecoins to buy the dip in bitcoin and broader crypto markets.”

https://www.coindesk.com/key-indicator-shows-capital-beginning-to-flow-back-into-bitcoin

 

Master Asked on June 25, 2021 in Bitcoin.
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