The approval of the U.S. strategic Bitcoin reserve was anticipated to have a significant impact on the market, but it hasn't triggered the expected rally.
Many analysts believe the news was already factored into Bitcoin’s price, leaving investors still waiting for a breakout.
However, a fresh indicator of potential market recovery comes from CryptoQuant. An analyst from the platform has pointed out that Binance’s stablecoin reserves have reached an all-time high, signaling a positive shift. The total value of ERC-20 stablecoins on Binance has surpassed $31.3 billion, marking a significant milestone.
The increase in reserves is seen as a promising sign, suggesting growing momentum. The analyst attributes this surge to two main factors: investors are preparing to enter the market, and Binance is expanding its stablecoin holdings to meet growing demand. Both reflect a strong level of confidence in the market’s future prospects.
Historically, these surges in stablecoin reserves have often preceded price rises in Bitcoin and broader cryptocurrency markets. The analyst believes this trend could signal an impending uptick in Bitcoin’s value and an overall market rebound.
As Bitcoin continues to consolidate above $100K, a critical market signal is flashing: BTC funding rates remain elevated, even as price action cools.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?
Bitcoin has officially reached the $116,000 milestone, a level previously forecasted by crypto services firm Matrixport using its proprietary seasonal modeling.