Bitcoin's Fragile Phase Amidst Stablecoin Minting Spree
Bitcoin's Fragile Phase Amidst Stablecoin Minting Spree
The crypto market has entered a precarious phase, with Bitcoin dropping below the crucial $70,000 mark and subsequently bouncing off $60,000, a level that appears to exert a gravitational pull rather than serving as a launchpad. This subdued market action coincides with a significant surge in stablecoin issuance, as Tether and Circle minted billions of dollars' worth of tokens.
The crypto market has entered a fragile phase as Bitcoin dropped under the critical $70,000 level and bounced off $60,000, a zone that has increasingly acted as a gravitational pull rather than a launchpad. This subdued price action came as the stablecoin market has surged, with Tether and Circle minting billions of dollars’ worth of […]
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