Crypto Markets Analysis: The recent increase in bitcoin prices shows investors positioning themselves for a potential price downturn. GWilliamsJr_CMT reports
An on-chain measure of stablecoins versus bitcoin held by exchanges indicates the appetite for the largest cryptocurrency by market capitalization could be waning.
As stablecoins serve as a primary mechanism for purchasing crypto assets, a lower ratio equates to more buying power.The recent increase in the ratio implies that investors are moving fewer stablecoins to exchanges and more bitcoin, or they are doing both simultaneously. Theoretically, if investors felt that more gains were to be had following a price increase, the stablecoin volume to exchanges would increase.
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