Bitcoin bull run next? Bitfinex stablecoin ratio ‘blows up’ in 2023

Bitcoin (BTC) is dealing with the possibility of a “big bull move” as stablecoin purchasing power returns, on-chain information hints.Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics duplicating historical bull market patterns.”Since the end of March, we can see in the chart that the trading volume has actually registered a decline and SSR a stagnancy, while we have a boost in the distributing supply of the stablecoin Tether (the largest stablecoin in terms of volume), followed by a boost of Bitcoins price,” she composed in one of the platforms Quicktake market updates on July 26. Source: CryptoQuant”Noteworthy shifts” among Bitcoin whalesAs Cointelegraph reported, “big players” have actually displayed indications of reorganization at current levels.Related: Bitcoin Bollinger Bands echo relocation that ended in 40% January gainsIn focus are Bitcoin whales, which just recently accounted for over 40% of exchange BTC inflows– the largest in over a year.

Bitcoin (BTC) is dealing with the prospect of a “big bull relocation” as stablecoin purchasing power returns, on-chain data hints.Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns.”Since the end of March, we can see in the chart that the trading volume has actually signed up a reduction and SSR a stagnation, while we have a boost in the circulating supply of the stablecoin Tether (the biggest stablecoin in terms of volume), followed by an increase of Bitcoins rate,” she composed in one of the platforms Quicktake market updates on July 26. Source: CryptoQuant”Noteworthy shifts” among Bitcoin whalesAs Cointelegraph reported, “big players” have actually displayed indications of reorganization at existing levels.Related: Bitcoin Bollinger Bands echo move that ended in 40% January gainsIn focus are Bitcoin whales, which recently accounted for over 40% of exchange BTC inflows– the biggest in over a year.

Other Questions People Ask

What indicators suggest a Bitcoin bull run next in 2023?

Recent analysis from CryptoQuant indicates that stablecoin supply metrics are mirroring historical patterns typically seen during bull markets. Since late March, there has been a notable increase in the circulating supply of Tether, the largest stablecoin, which often precedes price increases in Bitcoin. This trend, combined with a decrease in trading volume and stagnant SSR, suggests that a significant bull run could be on the horizon for Bitcoin.

How does the Bitfinex stablecoin ratio impact the Bitcoin bull run next?

The Bitfinex stablecoin ratio has shown significant changes in 2023, which could be a precursor to a Bitcoin bull run. A rising stablecoin supply, particularly from Tether, indicates increased purchasing power that can drive Bitcoin prices higher. As more stablecoins enter the market, it often leads to increased demand for Bitcoin, suggesting that the current market conditions may favor a bullish trend.

What role do Bitcoin whales play in the potential bull run next?

Bitcoin whales have recently accounted for over 40% of exchange BTC inflows, marking the highest activity in over a year. This significant movement among large holders indicates a potential shift in market sentiment that could contribute to a forthcoming bull run. Their actions often set the tone for market trends, and their current accumulation patterns suggest they are positioning themselves for upward price movements.

What does on-chain data reveal about the Bitcoin bull run next?

On-chain data from platforms like CryptoQuant reveals critical insights into the potential for a Bitcoin bull run. The data shows that as stablecoin purchasing power returns, historical patterns of price increases are being replicated. This correlation between stablecoin supply and Bitcoin price movements indicates that we may be on the cusp of a significant upward trend in the cryptocurrency market.

Can we expect a sustained Bitcoin bull run based on current trends?

While current trends suggest a potential Bitcoin bull run, sustainability will depend on various factors, including continued stablecoin accumulation and whale activity. The recent increase in Tether's circulating supply is promising, but market volatility can impact price stability. Monitoring these indicators closely will be essential to determine if this bullish momentum can be maintained over time.