Stablecoin Supply, Treasury Yields More Important Than ETF Inflows, Analysts Say

Stablecoin Supply, Treasury Yields More Important Than ETF Inflows, Analysts Say

Stablecoin supply and U.S. Treasury yields may be more important indicators for the bitcoin market than inflows and outflows of a U.S. bitcoin spot ETF, several analysts told CoinDesk. "A slowdown in stablecoin supply should lead to a correction," said Markus Thielen, founder of 10X Research. According to data from 10X Research, spot ETF inflows have slowed in recent weeks but USDT and USDC supply has continued to increase. "Another potential bearish factor is how inverted the yield curve is between the 10-year and 2-year U.S. Treasurys," said Ilan Solot, head of digital assets at Marex Solutions. "That is at its most inverted since January, which is not a great environment for risk assets like BTC." Previously on 25 April 2024 - "CoinDesk quoted several analysts saying that "while the market has been watching the inflows and outflows of a U.S. bitcoin spot ETF, stablecoin supply and U.S. Treasury yields may be more important indicators." Markus Thielen, founder of 10X Research, said that "a slowdown in stablecoin supply should lead to a correction." According to data from 10X Research, spot ETF inflows have slowed in recent weeks but USDT and USDC supply has continued to increase. "Another potential bearish factor is how inverted the yield curve is between the 10-year and 2-year U.S. Treasurys," said Ilan Solot, head of digital assets at Marex Solutions. "That is at its most inverted since January, which is not a great environment for risk assets like BTC."