{"id":634954,"date":"2024-08-13T02:00:02","date_gmt":"2024-08-13T02:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=634954"},"modified":"2024-08-12T15:39:50","modified_gmt":"2024-08-12T15:39:50","slug":"bitcoin-traders-cautious-despite-massive-stablecoin-inflow-whats-next-for-btc","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-traders-cautious-despite-massive-stablecoin-inflow-whats-next-for-btc\/","title":{"rendered":"Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: What&#8217;s Next  For BTC?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Bitcoin buyers might be upbeat after the uptick on August 8. While traders are waiting for a conclusive close above $63,000, confirming bulls of the second half of last week, on-chain data points to risk and traders staying on the sidelines.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Traders Cautious: Will The Bitcoin Consolidation Continue?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Taking to X, one on-chain analyst <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/AxelAdlerJr\/status\/17383003\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">said<\/span><\/a>. However,<span data-preserver-spaces=\"true\"> traders are bullish and expecting immediate price expansion; key metrics show that most are more cautious, meaning the uptrend might be delayed. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/optimism-suffers-21-loss-will-on-chain-activity-regain-investor-trust\/\" target=\"_blank\" rel=\"noopener \">Optimism Suffers 21% Loss \u2013 Will On-Chain Activity Regain Investor Trust?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">One key indicator, the Bitcoin Estimated Leverage Ratio (ELR), a dynamic ratio between the Bitcoin open interest in futures exchanges and the Bitcoin exchange reserves across leading platforms like Binance and Exchange, has been decreasing, recently falling by 1.5%. <\/span><\/p>\n<figure id=\"attachment_634956\" aria-describedby=\"caption-attachment-634956\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-634956\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?resize=1024%2C576\" alt=\"Bitcoin ELR falling | Source: @AxelAdlerJr via X\" width=\"1024\" height=\"576\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=2048 2048w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUwfcFPWYAAU3g-.jpg?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-634956\" class=\"wp-caption-text\">Bitcoin ELR falling | Source: @AxelAdlerJr via X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Usually, whenever the Bitcoin ELR falls, traders are more confident, meaning traders are more risk-on and unwilling to gain more exposure via leveraged positions. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While open interest and ELR are falling, the analyst <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/AxelAdlerJr\/status\/03810421\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">notes<\/span><\/a><span data-preserver-spaces=\"true\"> that funding rates across leveraged futures platforms remain neutral. <\/span><span data-preserver-spaces=\"true\">This<\/span><span data-preserver-spaces=\"true\"> shows that the broader market is balanced. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Most importantly, active traders are cautious, adopting a wait-and-see approach, and are mainly hesitant. This state of affairs, the analyst said, could persist until the end of the month as traders wait for clear signals before diving in.\u00a0\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Miner Reserve Falling, USDT And USDC Inflow Spikes: Will BTC Rise?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The continuous\u00a0<a href=\"https:\/\/x.com\/binhdangg1\/status\/87365364\" target=\"_blank\" rel=\"noopener nofollow\">drop<\/a> in the Bitcoin Miner Reserve is added to this current state of affairs.<\/span><span data-preserver-spaces=\"true\"> The decrease comes when miners have been actively selling after the Halving event on April 20. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/toncoin-ton\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\/\" target=\"_blank\" rel=\"noopener \">Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">As revenue fell due to the halving of miner rewards, weak miners sold to stay afloat. Bitcoin prices tanked by nearly 20% throughout June amid a wave of miner liquidation. <\/span><\/p>\n<figure id=\"attachment_634955\" aria-describedby=\"caption-attachment-634955\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-634955\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?resize=1024%2C576\" alt=\"Bitcoin miner reserve falling | Source: @binhdangg1 via X\" width=\"1024\" height=\"576\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=4000 4000w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=2048 2048w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=1140 1140w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/GUxqrG2bgAA3aL8.jpg?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-634955\" class=\"wp-caption-text\">Bitcoin miner reserve falling | Source: @binhdangg1 via X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">It remains to be seen whether prices will bounce higher. However, as long as miners hold fewer coins, supply constraints exist. This development may increase prices if institutions demand more coins via spot Bitcoin ETFs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As prices flatline, there is hope. Over the past few weeks, there have been <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/AxelAdlerJr\/status\/41414435\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">massive inflows<\/span><\/a><span data-preserver-spaces=\"true\"> of stablecoins across leading exchanges, averaging $53 billion per day. <\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.tradingview.com\/x\/OOqr6Hxr\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/OOqr6Hxr\/\" alt=\"Bitcoin price trending sideways on the daily chart | Source: BTCUSDT on Binance, TradingView\" width=\"1233\" height=\"590\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin price trending sideways on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/OOqr6Hxr\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Demand could be reinvigorated as more USDT and USDC flow into\u00a0<a href=\"https:\/\/uniquehot.com\/news\/binance-coin-in-turmoil-nearly-10-value-erased-in-market-shake-up\/\" target=\"_blank\" rel=\"noopener \">Binance<\/a> and other competitors. Subsequently, this may spark another wave of higher highs above crucial resistance levels in the coming days and weeks.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from DALLE, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin buyers might be upbeat after the uptick on August 8. While traders are waiting for a conclusive close above $63,000, confirming bulls of the second half of last week, on-chain data points to risk and traders staying on the sidelines. Traders Cautious: Will The Bitcoin Consolidation Continue? Taking to X, one on-chain analyst said. However, traders are bullish and expecting immediate price expansion; key metrics show that most are more cautious, meaning the uptrend might be delayed. Related Reading: Optimism Suffers 21% Loss \u2013 Will On-Chain Activity Regain Investor Trust? One key indicator, the Bitcoin Estimated Leverage Ratio (ELR), a dynamic ratio between the Bitcoin open interest in futures exchanges and the Bitcoin exchange reserves across leading platforms like Binance and Exchange, has been decreasing, recently falling by 1.5%. Usually, whenever the Bitcoin ELR falls, traders are more confident, meaning traders are more risk-on and unwilling to gain more exposure via leveraged positions. While open interest and ELR are falling, the analyst notes that funding rates across leveraged futures platforms remain neutral. This shows that the broader market is balanced. Most importantly, active traders are cautious, adopting a wait-and-see approach, and are mainly hesitant. This state of affairs, the analyst said, could persist until the end of the month as traders wait for clear signals before diving in.\u00a0\u00a0 Miner Reserve Falling, USDT And USDC Inflow Spikes: Will BTC Rise? The continuous\u00a0drop in the Bitcoin Miner Reserve is added to this current state of affairs. The decrease comes when miners have been actively selling after the Halving event on April 20. Related Reading: Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown? As revenue fell due to the halving of miner rewards, weak miners sold to stay afloat. Bitcoin prices tanked by nearly 20% throughout June amid a wave of miner liquidation. It remains to be seen whether prices will bounce higher. However, as long as miners hold fewer coins, supply constraints exist. This development may increase prices if institutions demand more coins via spot Bitcoin ETFs. As prices flatline, there is hope. Over the past few weeks, there have been massive inflows of stablecoins across leading exchanges, averaging $53 billion per day. Demand could be reinvigorated as more USDT and USDC flow into\u00a0Binance and other competitors. Subsequently, this may spark another wave of higher highs above crucial resistance levels in the coming days and weeks. Feature image from DALLE, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":634408,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,639,679,1119,1122,78790,89583,15241,16680,10263],"class_list":["post-634954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-miners","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusdt","tag-spot-bitcoin-etfs","tag-stablecoins","tag-usdc","tag-usdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: What&#039;s Next For BTC?<\/title>\n<meta name=\"description\" content=\"Bitcoin buyers might be upbeat after the uptick on August 8. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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