Bitcoin’s recent 12% surge has sparked optimism among analysts about the possibility of reaching $100,000 soon. However, caution is advised as a key indicator, the stablecoin minting activity, is not yet showing high levels of activity, according to Markus Thielen, head of research at 10x Research. Thielen highlighted the importance of stablecoin inflows in sustaining the current rally, suggesting that the absence of strong stablecoin inflows could limit Bitcoin’s upside potential. Despite the bullish signals from a falling wedge pattern indicating a potential move to $99,000, the lack of stablecoin activity raises concerns about the sustainability of the rally. At the time of writing, Bitcoin was trading at $93,133, up 11.42% in the past week, as per CoinMarketCap data. The surge in spot Bitcoin ETF inflows in the US, reaching $912.7 million on April 22, signals a demand-led rally, according to Swyftx lead analyst Pav Hundal. The market sentiment remains positive, with expectations of breaking new highs sooner than anticipated. Thielen emphasized the need for continued market strength to support a more sustained rally. The fluctuating market conditions, influenced by factors such as US President Donald Trump’s trade policies, add an element of uncertainty. However, recent developments suggesting a potential softening of Trump’s trade war stance have contributed to a bullish outlook for markets. Thielen identified $95,000 as a crucial resistance level for Bitcoin, which could trigger short-stop liquidations and potentially drive prices higher. It is essential for investors to conduct thorough research and exercise caution when making investment decisions in the volatile cryptocurrency market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin’s recent 12% surge has sparked optimism among analysts about the possibility of reaching $100,000 soon. However, caution is advised as a key indicator, the stablecoin minting activity, is not yet showing high levels of activity, according to Markus Thielen, head of research at 10x Research. Thielen highlighted the importance of stablecoin inflows in sustaining […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/106172"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=106172"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/106172\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=106172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=106172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=106172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}