• OKX and Binance saw an influx of stablecoin supply ahead of price upticks 
• Most metrics looked bullish as BTC’s price crossed the $26,000-level 

The crypto-market has been relatively less volatile on the back of major cryptos like Bitcoin [BTC] moving sideways. However, the wind is seemingly turning as top exchanges witnessed an influx of stablecoins, something that is typically a sign of a possible bull rally. If that’s true, then Bitcoin investors might want to keep an eye on their holdings, as the chances of a price uptick seem high. 

Read Bitcoin’s [BTC] Price Prediction 2023-24

Bitcoin is giving hope to investors 

After multiple weeks of the coin hovering under the $26,000-mark, the king of all cryptos finally made its investors happy as it breached that level. According to CoinMarketCap, BTC was up by more than 3% in the last seven days. At press time, it was trading at $26,739.04 with a market capitalization of over $521 billion. Things might get even better soon though. 

Crypto_Lion, an analyst and author at CryptoQuant, revealed in a recent analysis that top exchanges like OKX and Binance have seen an influx of stablecoins ahead of price upticks. Though there is currently no significant movement in the Stablecoins Exchange Reserve, its demand is becoming more positive. A decline in stablecoin supply means a halt in the outflow of funds, which can restrict the crypto-market from going down further – A positive sign for BT

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Author: Dipayan Mitra

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