According to data from Santiment, sharks and whales have been accumulating stablecoins like USD Coin, Dai, and Binance USD, which could potentially be bullish for Bitcoin. These large investors have improved their share of the total supply of stablecoins, as shown by the "Supply Distribution" indicator.
The trend in the Supply Distribution of these sharks and whales for three of the most popular stablecoins has shown an increase in supplies, indicating accumulation. This accumulation of stablecoins could be seen as potential dry powder that may be deployed into assets like Bitcoin, leading to a bullish effect.
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