TechFlow reported, Matrixport released a chart today indicating that stablecoin minting has remained strong over the past 2-3 weeks, serving as a key driver behind Bitcoin's rebound to $65,000.
Although spot Bitcoin ETFs have also seen capital inflows, stablecoins—as the primary fiat on-ramp for cryptocurrency—appear to be the main force propelling this rally due to their sustained issuance. This trend suggests institutional investors may be the primary drivers behind Bitcoin's price increase.
Matrixport has repeatedly emphasized over the past two weeks that this remains the most important factor, with its influence even surpassing that of macroeconomic conditions and monetary policy.
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