Will Bitcoin continue to slide especially after the stock market closes sharply lower?
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Answer Will Bitcoin continue to slide especially after the stock market closes sharply lower?
Bitcoin price fell to a new low in the last 24 hours at 19,335 on crypto exchange Bitstamp.
The largest cryptocurrency fell along with US stocks due to stronger-than-expected jobs data.
The S&P 500 lost 2.77%, and all of its major sectors were in the red.
When will the bitcoin bull market start?
In a recent thread on Twitter, CryptoQuant CEO Ki Young Ju told that the next Bitcoin bullish movement could start when crypto exchanges start recording massive inflows of stablecoins like USDC.
The analyst notes that 94% of the stablecoin supply is currently outside the exchange.Read:Ethereum sets the date for the transformation and the release of the “stacking” rewards … Get to know it
Part of this show is owned by financial giants such as BlackRock and Fidelity.
Trading platforms will start seeing stable cryptocurrency flows once the aforementioned financial giants get orders from their clients.Read:An ethical hacker discovers a vulnerability in the Augur platform
When that happens, the Bitcoin price movement will change.
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