Following Donald Trump's victory in the recent US presidential election, cryptocurrency exchanges have witnessed a significant influx of $9.3 billion in ERC-20 stablecoins. This surge marks one of the largest inflows in the stablecoin market, indicating potential bullish trends for Bitcoin, which has recently approached its all-time high just below $77,000. Major platforms like Binance and Coinbase accounted for substantial portions of these inflows, generating optimism in the crypto community that we may see a repeat of previous price rallies historically associated with similar influx patterns. Analysts from QCP Capital suggest that Bitcoin's positive momentum is likely to continue as the market anticipates Trump's economic policies, including proposed tariffs on China. Additionally, over $1.38 billion flowed into US-based Bitcoin ETFs, further reinforcing market confidence. The Coinbase Premium Index, which tracks Bitcoin price differentials across exchanges, has also hit its highest level since April, indicating a robust surge in US demand for Bitcoin. The market is keenly observing how Trump’s presidency will shape future cryptocurrency dynamics.

Source 🔗