On-chain data shows the recent rise in the price of Bitcoin above the $30,000 mark may be fueled by stablecoins being shifted into the asset.
As pointed out by an analyst on Twitter, stablecoins flowing into BTC could be another catalyst behind the recent jump. The relevant indicator here is the “stablecoin supply ratio” (SSR), which measures the ratio between the market cap of Bitcoin and combined market cap of the stablecoins.
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