{"id":630700,"date":"2024-07-20T12:00:29","date_gmt":"2024-07-20T12:00:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=630700"},"modified":"2024-07-20T10:09:18","modified_gmt":"2024-07-20T10:09:18","slug":"stalled-usdt-liquidity-threatens-bitcoin-price-further-growth-heres-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/stalled-usdt-liquidity-threatens-bitcoin-price-further-growth-heres-why\/","title":{"rendered":"Stalled USDT Liquidity Threatens Bitcoin Price Further Growth – Here\u2019s Why"},"content":{"rendered":"

The price of Bitcoin has maintained a recovery trajectory over the last week, gaining by a significant 16.25% to move briefly above the $67,000 price mark. Bitcoin investors are likely hopeful the asset will record more price gains and finally embark on a bull run following the halving event in April. However, Bitcoin\u2019s price future gains are theorized to be tied to multiple factors including the liquidity of the stablecoin market.<\/span><\/p>\n

Why A Stagant USDT Liquidity Is Harmful To Bitcoin?<\/h2>\n

In an X post<\/a> on Friday, prominent on-chain analytics platform CryptoQuant<\/a> emphasized the importance of stablecoin liquidity to an appreciation in Bitcoin\u2019s price. CryptoQuant stated that for premier cryptocurrency to experience further price increases, there is a need for an equal rise in the stablecoin market shares.<\/span><\/p>\n

Related Reading: Coinbase Analysts Warn: Bitcoin\u2019s Upward Trend Could Hit a Wall \u2014 Here\u2019s Why<\/a><\/p>\n

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Stablecoin liquidity, especially USDT, needs to pick up for #Bitcoin<\/a> prices to rise further. <\/p>\n

USDT market cap growth is near 0%, down from 6.6% in March when Bitcoin topped $70K. <\/p>\n

Faster growth in stablecoin liquidity is crucial for continued price increases. pic.twitter.com\/8AJdq7TzTu<\/a><\/p>\n

— CryptoQuant.com (@cryptoquant_com) July 19, 2024<\/a><\/p><\/blockquote>\n