10x Research: Stablecoin indicators lag, Bitcoin holders should be cautious about the recent rebound
Bitcoin rose by 12% this week, with a significant increase in inflows of Exchange Traded Funds (ETFs). However, Markus Thielen, director of research at 10x Research, found that stablecoin minting indicators have not yet returned to active levels. Therefore, he remains cautious about the sustainability of the current Bitcoin rally. The influx of stablecoins is often closely related to funds with stronger stickiness. An increase in futures leverage may simply mean that fast traders are taking advantage of the rapid rise. Based on analysis, the $95,000 price level is seen as a key resistance level for Bitcoin at present, and a potential trigger point for short-term stop-loss liquidation.
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