• Bitcoin’s recent uptrend correlated positively with the stablecoin exchange inflows
• These 7DMA inflows have been in decline since December

Bitcoin [BTC] hit a high of $105.8k on Friday, 17 January. The quick price gains for the world’s leading crypto came alongside strong stablecoin inflows into exchanges.

In a post on CryptoQuant Insights, stablecoin inflows to exchanges were observed to be rising since Monday, 13 January. The price of Bitcoin has also been trending higher during the same period.

While this seemed to be bullish in the short-term, it would be interesting to see if there were any patterns that repeated from the previous bull run. AMBCrypto also investigated the total market cap’s expansion, alongside stablecoin inflows.

Stablecoin inflows skyrocketed in November, but the trend has slowed down