Stablescoins Act As "Rocket Fuel," Propels Bitcoin To Another ATH
Bulls were able to prevent the pattern from fully forming, stopping the candle short of the 50% engulfing requirement. The pattern and minor pullback was enough to lure bears in a trap, and this morning short sellers were squeeze and Bitcoin blasted through resistance to set yet another new high. Coinciding with the rise, was a sizable uptick in stablecoin transactions that one cryptocurrency quant analyst says was used as “rocket fuel” by whales to pump BTC prices even higher. Stablecoin transactions were buzzing ahead of the rally | Source: CryptoQuant $50,000 Bitcoin Is Next, But Wil...
Source: newsbtc.com