{"id":459457,"date":"2021-03-24T20:00:16","date_gmt":"2021-03-24T20:00:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=459457"},"modified":"2024-06-11T14:14:14","modified_gmt":"2024-06-11T14:14:14","slug":"bitcoin-btc-reserves-stablecoin-supply","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-reserves-stablecoin-supply\/","title":{"rendered":"Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up"},"content":{"rendered":"

Bitcoin price is back in the mid-$50,000 range<\/a>, unable to push any lower despite bears best efforts and overheated technical indicators pointing to a potential trend reversal. However, several fundamental factors are proving to be too strong, and are setting the stage for the next leg up in the ongoing cryptocurrency bull trend instead.<\/p>\n

Here’s what rising stablecoin supply says in the face of diminishing BTC reserves on exchanges, and what it could mean for all of crypto.<\/p>\n

Fundamental Factors Have Fueled The Cryptocurrency’s Recent Rise To Stardom<\/h2>\n

Cryptocurrencies, like all free markets, are driven by the dynamic forces of supply and demand. Other factors, such as regulatory, political, environmental, and economical issues can also have a dramatic impact.<\/p>\n

Related Reading | Bitcoin Technicals Overheated, But Bullish Fundamentals Remain Unfazed<\/a><\/strong><\/em><\/p>\n

Two examples of one extreme or another, include the Black Thursday market crash due to pandemic panic, and the polar opposite move to the upside due to a BTC supply shock<\/a>.<\/p>\n

\"bitcoin<\/p>\n

Bitcoin has grown significantly, driven by bullish fundamentals | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A shift in avalaible supply and increasing demand for Bitcoin, has brought the price per coin to more than $60,000 at the high. Technicals have been mostly overheated the entire way up, and are reaching a boiling point<\/a>.<\/p>\n
Yet prices still aren’t falling any deeper than the mid-to-low $50,000 range, and it could be due to just how strong fundamental factors are currently.<\/p>\n
The Bullish Factors Keeping Bitcoin Afloat, Another Leg Up Possible<\/h2>\n
Among the factors keeping Bitcoin price action afloat<\/a> despite technical momentum indicators turning sharply down, is the continued lack of BTC on crypto exchanges. The liquidity crisis that has driven up prices so far, remains a vital factor in the buoyancy.<\/p>\n
Related Reading | This Bitcoin Metric Says The Top Is Still 350% Away<\/a><\/strong><\/em><\/p>\n
Next, stablecoin supply has been steadily rising again, one of the primary factors behind each bullish impulse on the way up. Quant analysts have said that fresh USD was necessary<\/a> to push higher, however, an increase in stablecoins could shift more capital into Bitcoin, and have a similar impact.<\/p>\n
\"bitcoin<\/p>\n
Stablecoin reserves continue to rise while BTC held on exchanges drops further | Source: CryptoQuant<\/a><\/pre>\n
If the leading cryptocurrency by market cap can sustain the current support levels and keep several bearish technicals at bay<\/a>, then another leg up is the only way ahead. A continued rise could squeeze shorts at current all-time highs, causing prices to return to their parabolic trajectory.<\/p>\n
If not, however, technicals will have outweighed fundamentals<\/a> for the first time during the bull market, and it could result in the first more sizable correction since it all first began.<\/p>\n
Will the increasing supply of stablecoins and low BTC reserve be enough to shake off momentum flipping bearish?<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is back in the mid-$50,000 range, unable to push any lower despite bears best efforts and overheated technical indicators pointing to a potential trend reversal. However, several fundamental factors are proving to be too strong, and are setting the stage for the next leg up in the ongoing cryptocurrency bull trend instead. Here’s what rising stablecoin supply says in the face of diminishing BTC reserves on exchanges, and what it could mean for all of crypto. Fundamental Factors Have Fueled The Cryptocurrency’s Recent Rise To Stardom Cryptocurrencies, like all free markets, are driven by the dynamic forces of supply and demand. Other factors, such as regulatory, political, environmental, and economical issues can also have a dramatic impact. Related Reading | Bitcoin Technicals Overheated, But Bullish Fundamentals Remain Unfazed Two examples of one extreme or another, include the Black Thursday market crash due to pandemic panic, and the polar opposite move to the upside due to a BTC supply shock. Bitcoin has grown significantly, driven by bullish fundamentals | Source: BTCUSD on TradingView.com A shift in avalaible supply and increasing demand for Bitcoin, has brought the price per coin to more than $60,000 at the high. Technicals have been mostly overheated the entire way up, and are reaching a boiling point. Yet prices still aren’t falling any deeper than the mid-to-low $50,000 range, and it could be due to just how strong fundamental factors are currently. The Bullish Factors Keeping Bitcoin Afloat, Another Leg Up Possible Among the factors keeping Bitcoin price action afloat despite technical momentum indicators turning sharply down, is the continued lack of BTC on crypto exchanges. The liquidity crisis that has driven up prices so far, remains a vital factor in the buoyancy. Related Reading | This Bitcoin Metric Says The Top Is Still 350% Away Next, stablecoin supply has been steadily rising again, one of the primary factors behind each bullish impulse on the way up. Quant analysts have said that fresh USD was necessary to push higher, however, an increase in stablecoins could shift more capital into Bitcoin, and have a similar impact. Stablecoin reserves continue to rise while BTC held on exchanges drops further | Source: CryptoQuant If the leading cryptocurrency by market cap can sustain the current support levels and keep several bearish technicals at bay, then another leg up is the only way ahead. A continued rise could squeeze shorts at current all-time highs, causing prices to return to their parabolic trajectory. If not, however, technicals will have outweighed fundamentals for the first time during the bull market, and it could result in the first more sizable correction since it all first began. Will the increasing supply of stablecoins and low BTC reserve be enough to shake off momentum flipping bearish? Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":452370,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-459457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nStablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up<\/title>\n<meta name=\"description\" content=\"Bitcoin price is back in the mid-$50,000 range, unable to push any lower despite bears best efforts and overheated technical indicators pointing to a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up","url":"http:\/\/uniquehot.com\/news\/bitcoin-btc-reserves-stablecoin-supply\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-btc-reserves-stablecoin-supply\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/12\/Depositphotos_19316609_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/12\/Depositphotos_19316609_s-2019.jpg?fit=999%2C669"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-03-24T20:00:16Z","datePublished":"2021-03-24T20:00:16Z","dateModified":"2024-06-11T14:14:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-reserves-stablecoin-supply\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-reserves-stablecoin-supply\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/Depositphotos_19316609_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/Depositphotos_19316609_s-2019.jpg?fit=999%2C669\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-03-24T20:00:16Z\",\"datePublished\":\"2021-03-24T20:00:16Z\",\"dateModified\":\"2024-06-11T14:14:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/12\/Depositphotos_19316609_s-2019.jpg?fit=999%2C669","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/459457"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=459457"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/459457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/452370"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=459457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=459457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=459457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}