CryptoQuant Announced: “The Long-Expected Bullish Signal for Bitcoin (BTC) and Altcoins Came from Binance!”

The long-awaited US strategic Bitcoin reserve approval has arrived, but it did not have the expected impact on the BTC price and the market. While analysts say this news was already priced in, investors are expecting a rally.

At this point, the expected bullish signal came from CryptoQuant. CryptoQuant analyst said that the Binance stablecoin reserve reached an all-time high, which is a positive sign for the market recovery.

Accordingly, stablecoin (ERC-20) reserves on Binance exceeded $31.3 billion today, reaching an all-time high.

He noted that an increase in the Binance stablecoin reserve generally indicates positive momentum.

“When we see an increase in stablecoin reserves on Binance (currently the exchange with the highest trading volume), it shows positive momentum.”

The analyst attributed the stablecoin surge on Binance to two important reasons. First, he cited investors preparing to enter the market. According to the analyst, investors choosing Binance for this and directing stablecoin liquidity to the exchange reflects confidence in the market and the exchange.

The second reason, the analyst said, is that Binance is expanding its existing stablecoin reserves as demand increases.

What is the Impact on Bitcoin and the Market?

The CryptoQuant analyst said that periods of ATH and positive change in the stablecoin reserve are usually accompanied by a large increase in the Bitcoin price.

At this point, the analyst, who expects the trend in Bitcoin and cryptocurrencies to change with the Binance stablecoin ATH, said, “Historically, periods when stablecoin reserves on Binance have increased have generally coincided with or even preceded increases in Bitcoin prices and a broader rise in the cryptocurrency market.”

*This is not investment advice.

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