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- Bitcoin (BTC) has been tipped for a possible rebound as Tether and Circle mints a total of $1.25 billion in just 24 hours.
- Bitcoin miners are also reported to have sold more than 2000 BTC in the past week, hinting at a possible correction.
Over the last 14 days, Bitcoin (BTC) has consolidated below the $100k level. According to market data, the asset recently touched the $93k level before ascending back into the $96k zone. This has been attributed to the ongoing FTX repayment and the lack of whale activities, as noted in our earlier post. Meanwhile, some analysts expect the price to rebound soon.
Analyzing data from Arkham Intelligence shared by Lookonchain, we found that stablecoin issuers have injected a whopping $1.25 billion worth of liquidity into the crypto market in the last 24 hours. Further investigation revealed that this amount was deployed by the two largest stablecoin issuers, Tether (USDT) and Circle (USDC).
While Tether minted $1 billion USDT on Tron, Circle minted $250 million USDC on Solana. According to the data, Tether has now issued $61.7 billion in USDT on Tron. Meanwhile, Circle has also issued $2.25 billion in USDC on Solana since the beginning of February 2025.
What This Means to the General Market
According to experts, the significant provision of liquidity into the market implies that there has been a rising demand for stablecoins. Basically, this also signals that investors may be preparing to buy the dip, which could set the market to a short-term bullish reversal. Fascinatingly, this could not be all.
Another explanation for the rising stablecoin demand is that investors may be liquidating their crypto holdings for this asset class. Delving into other areas, we also found that Bitcoin miners are anticipating a bearish continuation. They sold a massive amount of the asset in the past week, drastically reducing their reserves to approximately 1.81 million BTC.
According to data, Bitcoin miners sold more than 2000 BTC in the past week. Historically, this situation usually precedes a severe market pullback. However, some market experts, including CryptoQuant CEO Ki Young Ju, believe that Bitcoin could drop to $77k and still maintain its bull market.
In an X post, Ki pointed out that Bitcoin could maintain higher levels throughout this year despite the market’s sluggishness. In a nutshell, he does not expect the bear market to emerge this year.
We’re still in a bull cycle. The price would eventually go up, but the range seems broad. I personally think that the bull cycle could continue even with a -30% dip from ATH (e.g., 110K → 77K), as seen in past cycles.
This thesis comes at a time when institutional interest remains high. In a recent update, we discussed the decision of the Bank of Montreal (BMO) to commit a $150 million investment in spot Bitcoin exchange-traded funds (ETFs). Similarly, BlackRock has increased its Bitcoin holdings by $443 million. As featured in our recent coverage, BlackRock equally added $22.3 million in Bitcoin on February 15.
At press time, Bitcoin was trading at $96.k after declining by 0.14% in the last 24 hours.
