have surged. Since the 9th of September, USDT and USDC market cap increased by $1.153 billion—USDT up $410M and USDC up $743M.
Put simply, the jump in USDT supply did not correlate with increased Bitcoin demand; other factors might be at play.While this could suggest confidence in price recovery, it may also reflect liquidity demand or market hedging, not direct optimism.The chart shows many Bitcoin holders are in profit, which is bullish but may signal a market top as high NUPL could lead to profit-taking and potential corrections.
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