Recent on-chain data reveals an increase in stablecoin deposits to exchanges, suggesting a potentially bullish trend for Bitcoin and other digital assets. Positive stablecoin exchange netflows indicate that investors are ready to trade, often preceding increased investment in volatile assets like Bitcoin.
The stablecoin exchange netflow has remained positive, signifying continued investor interest, and supportive of Bitcoin's current rally. These deposits are believed to bolster Bitcoin's price journey towards the $100,000 target by providing buying pressure and liquidity.
Bitcoin recently faced a slight price drop, yet recovered swiftly, now trading near $98,400. Continuous stablecoin inflows may extend Bitcoin's rally, heightening potential for reaching its price target.
Source: www.newsbtc.com ↗