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Bitcoin Continues Slump, Investors Expect Fed to Announce Another Jumbo Rate Hike Next Month
the price of Bitcoin It fell to a new intraday low of $19,335 on the Bitstamp exchange on Friday.
The largest cryptocurrency fell with US stocks. Employment data better than expectedThe S&P 500 Index fell 2.77%, leaving all major sectors in the red.
In a recent Twitter thread, CryptoQuant CEO Young Joo Ki It claims that the next parabolic Bitcoin bull market could start when cryptocurrency exchanges start recording massive USD Coin (USDC) flows.
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Analyst It pointed out 94% of the stablecoin supply is currently outside exchanges. Some of this supply is owned by financial giants such as BlackRock and Fidelity.
Exchanges will start seeing USDC flows as soon as the aforementioned financial giant receives orders from clients.
