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In this analysis We're going to take a look at the stablecoin marketcap, USDT and USDC to be precise.
As seen on the chart, the stablecoin marketcap is trading in a well-defined bullish channel.
Consequently, every single time that this metric has touched the bottom support, Bitcoin dumped. I'm aware that there's only a couple years of history, but a 3/3 hit-rate is still impressive and deserves your attention.
To further strengthen the bearish narrative, BTC's volatility is currently at historical lows and the stock markets are seeing terrible results after the US downgrade from AAA to AA+.
Do you think a dump is imminent? Or are we going back up? Share your thoughts below🙏
In this analysis We're going to take a look at the stablecoin marketcap, USDT and USDC to be precise.
As seen on the chart, the stablecoin marketcap is trading in a well-defined bullish channel.
Consequently, every single time that this metric has touched the bottom support, Bitcoin dumped. I'm aware that there's only a couple years of history, but a 3/3 hit-rate is still impressive and deserves your attention.
To further strengthen the bearish narrative, BTC's volatility is currently at historical lows and the stock markets are seeing terrible results after the US downgrade from AAA to AA+.
Do you think a dump is imminent? Or are we going back up? Share your thoughts below🙏
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