Quant Analyst: Surging Stablecoin Supply To Drive Unprecedented Bitcoin Buy Pressure

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As Bitcoin soars toward a new all-time high and has recaptured the interest of the world of finance, a sizable supply of liquidity is building on exchanges, not in BTC, but in stablecoins. The rising supply alongside surging crypto valuations suggests that the recent rally is “liquidity-driven,” according to one cryptocurrency quantitative analyst. That liquidity as it continues to stack up on exchanges everywhere could soon bring the most “unprecedented buying pressure in history” to the crypto market. Could the likes of Tether and USD Coin be the key to unlocking the prices in Bitcoin that experts someday predict? “Liquidity-Driven Market Rally” Takes Bitcoin To Nearly $20,000 Bitcoin price is nearing $20,000, and at this point, the asset has gone parabolic, and most technical analysis has gone out the window. Trendlines no longer hold the unstoppable cryptocurrency back, and indicators have been overheated for weeks on end with not so…

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