Experienced Analyst Reveals What Will Bring Down Bitcoin and Ethereum!
The unsettling stagnation in the stablecoin market can lead to significant drops in the price of Bitcoin and Ethereum.
The first three stablecoins, which dominate over 90% of the stablecoin market, froze before the release of the US Consumer Price Index (CPI) data.
However, the halt of Tether (USDT), USD Coin (USDC), and DAI (DAI) was not only due to US-based data. The market value of these 3 stablecoins has been trapped in a narrow range especially since the Bitcoin halving. According to the data, the combined market value of these three major stablecoins has been fluctuating between 149 billion and 150 billion dollars for the past three weeks.
According to Markus Thielen, the founder of 10x Research, who commented on the subject, these data in the stablecoin market indicate a downward signal for cryptocurrencies in general.
Thielen stated that Bitcoin could drop below $55,000 and Ethereum could drop to the $2,500 range: Since the halving, we have seen almost zero growth in stablecoin inflows and a significant decrease in Bitcoin futures leverage. Contrary to the bullish tweets about the post-halving rally, crypto users have exhibited an unexpected behavior by slowing down or pausing their inflows. US CPI data will be announced on Wednesday, May 15th. It is believed that if the data comes out positive, the cryptocurrency market may revive, while a negative outcome is estimated to cause deeper losses. #What's your ETH price prediction upon the ETF decision?# #ContentStar##Gate post Highlights# #HotTopicDiscussion##BountyCreator# #GateLive##NewsMessenger#
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
7 Likes
Reward
7
5
Share
Comment
0/400
KatyPaty
· 2024-05-14 03:42
Thank you very much for the information 👍🏻
Reply0
HaveAHeartOfGetting
· 2024-05-14 02:05
Ambush 100x coin 📈 !!!!!!!!!!!!!
Reply1
BornToBeBeautiful131
· 2024-05-14 01:10
#ETH现货ETF审批将至，ETH走势预测？#
Reply1
Ryakpanda
· 2024-05-13 23:40
Bitcoin Halving, just do it! 👊 Grasp the trend and make a lot of money in 2024! 💸Come on!
Experienced Analyst Reveals What Will Bring Down Bitcoin and Ethereum!
The unsettling stagnation in the stablecoin market can lead to significant drops in the price of Bitcoin and Ethereum.
The first three stablecoins, which dominate over 90% of the stablecoin market, froze before the release of the US Consumer Price Index (CPI) data.
However, the halt of Tether (USDT), USD Coin (USDC), and DAI (DAI) was not only due to US-based data. The market value of these 3 stablecoins has been trapped in a narrow range especially since the Bitcoin halving.
According to the data, the combined market value of these three major stablecoins has been fluctuating between 149 billion and 150 billion dollars for the past three weeks.
According to Markus Thielen, the founder of 10x Research, who commented on the subject, these data in the stablecoin market indicate a downward signal for cryptocurrencies in general.
Thielen stated that Bitcoin could drop below $55,000 and Ethereum could drop to the $2,500 range:
Since the halving, we have seen almost zero growth in stablecoin inflows and a significant decrease in Bitcoin futures leverage. Contrary to the bullish tweets about the post-halving rally, crypto users have exhibited an unexpected behavior by slowing down or pausing their inflows.
US CPI data will be announced on Wednesday, May 15th. It is believed that if the data comes out positive, the cryptocurrency market may revive, while a negative outcome is estimated to cause deeper losses.
#What's your ETH price prediction upon the ETF decision?#
#ContentStar# #Gate post Highlights#
#HotTopicDiscussion# #BountyCreator#
#GateLive# #NewsMessenger#