Analyst: Miners' Reluctance to Sell Bitcoin and Increased Demand for Stablecoin May Indicate Bitcoin Price is Near a Bottom
Cryptocurrency analyst Marcel Pechman posted that there are some signs that Bitcoin price is close to the bottom, with Bitcoin miners having a stable attitude and reluctance to sell despite the decline in hash rates, suggesting that the decline in the price of Bitcoin may be nearing its end. Demand for Stablecoins Increased demand for stablecoins shows optimism about cryptocurrencies and could be a boost to the Bitcoin price. The Fed minutes were released in line with expectations, reducing uncertainty in the market.
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