“The fear is gone for now, and the market is optimistic,” Arcane Research wrote in a Tuesday newsletter. But not enough to keep bitcoin' price above $50K.
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
The issuer of the world's largest stablecoin has minted 2.3 billion new USDT tokens since the start of August.
The latest data reflected a reversal after six consecutive weeks of outflows.
Bitcoin rallied after Coinbase announced it will add crypto to its balance sheet.
Expectations are rising for the blockchain to implement smart-contract functionality by next month.
Analysts expect bitcoin to remain above its 200-day moving average.
Bitcoin and other cryptocurrencies are consolidating near recent highs.
Art dealers were agog at the NFT frenzy earlier this year. They should have a look now at the trading volumes on the OpenSea platform.
