Bitcoin approaches the $100,000 milestone, driven by stablecoin inflows and strong on-chain metrics signalling bullish momentum.
Bitcoin’s MVRV ratio at 2.69 and rising open interest suggest a bullish trend with minimal risks.journey toward breaching the $100,000 mark remains closely watched as the cryptocurrency maintains price stability above $96,000.
Despite achieving an all-time high of $99,645 on 22nd November, Bitcoin has resisted significant corrections, trading at $98,083 at the time of writing. This resilience suggests aOne key observation behind this price stability has been the steady inflow of stablecoins into exchanges. According to SignalQuant, a CryptoQuant analyst, the trend of stablecoin net inflows has boosted Bitcoin’s ability to sustain higher lows.“This has allowed the price to continue to make higher lows.
Similarly, the open interest volume has surged by 47.13%, reaching $81.33 billion. These figures highlight a strong market appetite for Bitcoin, with traders positioning themselves in anticipation of further price action.
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