"On-chain data bullish market indication" While the U.S. employment report to be released tonight is drawing attention, the on-chain data already reveals that the market is preparing for an upward movement. Surge in Stablecoin Inflows Recently, the amount of stablecoins entering exchanges has significantly increased. In the past, ahead of major macro events, an increase in USDT and USDC inflows often led to immediate investments in BTC and ETH. The situation appears to be similar this time. Market participants are ready to either buy the dip or ride the momentum. High Open Interest The open interest for Bitcoin is maintaining near an all-time high of over $40 billion. This indicates that positions continue to build even while prices take a breather around $110,000. When stablecoin inflows and high open interest appear simultaneously, it generally precedes significant movements. Positive Macroeconomic Environment With the Federal Reserve's interest rate cut possibility reaching 97%,...
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