Analyst: The stagnation of stablecoin supply indicates market risks, and if CPI data is higher than expected, it may trigger a significant pullback
According to CoinDesk, analyst Omkar Godbole pointed out that although Bitcoin has rebounded quickly from below $90,000, the stagnation of stablecoin supply may indicate market risks. Glassnode data shows that the total supply of the four major stablecoins USDT, USDC, BUSD and DAI remains at 189 billion dollars, with a net change of only 0.37% in 30 days, indicating a lack of new funds entering the market.
Analysts believe that if the upcoming U.S. CPI data is higher than expected, coupled with last Friday's strong employment report, it could exacerbate market concerns about the Federal Reserve's interest rate cuts being less than expected and trigger significant downward fluctuations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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