Blockware analyst Will Clemente can help us understand the nature of what is happening. The chart, which the analyst calls compelling, shows a pattern whereby when the share of stablecoins in the total market capitalization decreases, the Bitcoin price rises. On the contrary, when there are a large number of stablecoins deployed on the market, but no buyers left, Bitcoin's price falls.
Clemente explains this pattern by saying that, in the first case, participants are forced to chase the upward rally, while in the second case, on the contrary, a lack of buyers drags the price down. The logic of the chart is simple and obvious, but it is its graphical representation that is important and reflects well the pattern suggested by Clemente.When large amounts of stablecoins are on the sideline relative to crypto's mkt cap, market participants have to chase the rally higher.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto recaptures $1 trillion market cap: BTC hits $22K, ETH 'giga mooning'Cause for celebration or just more consolidation in a range? At one trillion dollars, the crypto market reclaims a psychological barrier. $ETH We love to see it I guess we'll enjoy it while it lasts.🥲
Source: Cointelegraph - 🏆 562. / 51 Read more »
Total Crypto Market Cap is Back Above $1 Trillion | CoinMarketCapThe total market cap of all cryptocurrencies has surged beyond $1 trillion for the first time in over a month, CMC data shows.🚀 Thanks you veryy much_, zvh Yeah 🚀 It’ll be short lived
Source: CoinMarketCap - 🏆 290. / 63 Read more »
'Singapore-based' Crypto Firms Leading Market Meltdown Were Not Regulated, Central Bank Chief Says'In reality, these so-called 'Singapore-based' crypto firms have little to do with crypto-related regulation in Singapore,' MAS_sg Chief Ravi Menon said of why 3AC, Terra_money and VauldOfficial aren't overseen by his agency. By iamsandali MAS_sg terra_money VauldOfficial iamsandali I'm not surprised 😸
Source: CoinDesk - 🏆 291. / 63 Read more »
Crypto market downturn could lead to new M&A opportunities, according to Galaxy's top deal makerCrypto market downturn could lead to new M&A opportunities, according to Galaxy’s top deal maker
Source: TheBlock__ - 🏆 464. / 53 Read more »
Dogecoin Transactions Are Spiking as Crypto Market RecoversDogecoin creator BillyM2k highlights the massive spike in $DOGE transactions amid cryptocurrency market recovery
Source: Utoday_en - 🏆 295. / 63 Read more »
Bitcoin, Ethereum Technical Analysis: ETH Hits $1,600 as Crypto Surge Continues on Tuesday – Market Updates Bitcoin NewsEthereum rose for a seventh consecutive session on Tuesday, as prices briefly climbed above the $1,600 level. Bearish divergence on the 4-hour already play out? Fortunately I’ve managed to spend my Tether on ETH dips. Buy and Hold AXL INU Now! and Thanks me Later 😉 Why? axltoken 🚀 IDO Launchpad ⛓️ Multi-Chain (ETH/BSC) STAKE 🤩 High APR 💠Dex aggregator, 0% tax buy-sell 💎 NFTs ✨ Doxxed devs 👊harmonious community $Axl axl axlinu Binance BSC dogecoin ETH SHIB crypto
Source: BTCTN - 🏆 531. / 51 Read more »