Connect with us

Business

Is a new rally brewing as Bitcoin reclaims $38K and stablecoins ‘flooding’ exchanges? – Cointelegraph

Stablecoin inflows into exchanges spiked right as the price of Bitcoin recovered above $38,000.

Published

on

post featured image
ADVERTISEMENT

The price of Bitcoin (BTC) has extended its recovery on Jan. 14, reclaiming the $38,000 level. What’s more, the weekly candle has now turned green for the fifth consecutive week despite the 28% crash earlier this week. 
BTC/USD Weekly candle chart (Bitstamp). Source: Tradingview
Meanwhile, stablecoin deposits are flooding into cryptocurrency exchanges, according to data from CryptoQuant. This inflow may act as a short-term catalyst for Bitcoin as it suggests that sidelined capital is moving back…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

post featured image
Bay Area ICU Capacity Swings to 23.4% — Could Lockdown End Soon? – SFist
post featured image
Sunday COVID-19 update: Positivity rate continues to decline – LEX18 Lexington KY News
post featured image
Covid-19’s Financial Toll Mounts as Homeowners Keep Postponing Mortgage Payments – Fox Business