Is a new rally brewing as Bitcoin recovers $ 38K and stablecoin exchanges ‘flood’? By Cointelegraph

Is a new rally brewing as Bitcoin recovers $ 38K and stablecoin exchanges ‘flood’?

The price of (BTC) has extended its recovery on January 14, recovering the $ 38,000 level. Furthermore, the weekly candle has now turned green for the fifth week in a row despite the 28% drop earlier this week. Weekly candlestick chart (Bitstamp). Source: Tradingview Meanwhile, stablecoin deposits are flooding cryptocurrency exchanges, according to data from CryptoQuant. This entry may act as a short-term catalyst for Bitcoin, as it suggests that underserved capital is returning to BTC. Stablecoins entry into exchanges. Source: CryptoQuantExchanges Stable Coin Reserve. Source: CryptoQuantBitcoin Futures Open Interest. Source: Bybt.com Continue reading on Coin Telegraph

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