Money Inflow to Stock Exchanges Breaks Record! A Buy Signal for Bitcoin and Altcoins?

Hardly affected by the Fed’s rate hikes Bitcoin (BTC) Although it fell after yesterday’s rate hike, it managed to stay above $20,000.

As Bitcoin continues to hold strongly above the $20,000 psychological level, investors are also wondering if the rise in BTC and the crypto markets will be permanent.

Giving hopeful news to investors who are looking forward to the start of the rally. CryptoQuant analyst, who entered the spot stock market according to the data stablecoin He said the amount reached an all-time high as of November 2.

Because the increase in stablecoin transactions is the beginning of a possible rally and big investors and whales bitcoinIt is considered that they may have taken action to buy the bottom in .

Stating that this activity in stablecoins is a good sign for BTC, CryptoQuant analyst said:

“The average of stablecoins entering spot exchanges has reached an all-time high.

Overall, this is a good sign for BTC price in the long run. However, it may have a negative impact on the BTC price in the short term by causing price volatility.”

Stating that he does not expect Bitcoin to drop below the $ 17,500 bottom, the analyst is currently BTC’He also said that it is risky to open a long or short position.

Also, a historically reviewing CryptoQuant analyst stated that when there is a surge in the entry of stablecoins into exchanges, it shows that whales and large institutional investors are planning to buy.