Stablecoin rotation into Bitcoin helped fuel the leg up to $29K

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Quick Take The recent Bitcoin pump to $29,000 was helped by the rotation of stablecoins into Bitcoin.  According to the stablecoin supply ratio, the oscillator pumped this week to 1.9, going as low as 1.7, which shows the rotation that fuelled the leg up to $29,000. Stablecoins on exchanges are approaching $20B, the same levels […] The post Stablecoin rotation into Bitcoin helped fuel the leg up to $29K appeared first on CryptoSlate.
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