Bitcoin (BTC) price stabilizes around $61,000 on Thursday after closing below the key support level of $62,000 on Wednesday.
Bitcoin price today: $61,000 Bitcoin price closed below the $62,000 support on Wednesday, showing signs of weakness. CryptoQuant report shows how rising stablecoin market capitalization could be a positive sign for Bitcoin and other cryptocurrencies. US Spot Bitcoin ETFs recorded two straight days of outflows on Wednesday. Bitcoin price stabilizes around $61,000 on Thursday after closing below the key support level of $62,000 on Wednesday.
Reserve on Exchanges chart. Source: CryptoQuant Furthermore, USDT and USDC’s market capitalization has continued to increase monthly, though slower than earlier in the year. The market capitalization of USDC is growing at a 2.1% monthly pace, compared to a peak of 14.4% in March 2024. Meanwhile, the USDT market cap is up 1.3% month-on-month , compared to its high of 6.6% in March.
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