Matrixport: Stablecoin minting drives Bitcoin up

Odaily Odaily News Matrixport released a chart saying that the continued strong minting of stablecoins in the past 2-3 weeks is the key driving force for Bitcoin's rebound to 65,000. Although Bitcoin spot ETFs also have inflows, stablecoins, as the main fiat currency entry channel for cryptocurrencies, seem to be the main driving force for their stable minting. This trend shows that institutional investors may be the main driver of Bitcoin's rise. We have also emphasized many times in the past two weeks that this is still the most important factor, and its influence even exceeds that of macroeconomics and monetary policy.