Analysis: Bitcoin highs blocked, weak stablecoin inflows dragging down breakout

PANews reported on July 8 that Matrixport stated that the price of Bitcoin has returned to its highs, but the momentum of stablecoin minting continues to decline. The lack of new liquidity in the market may be one of the key reasons why Bitcoin has failed to effectively break through.

On-chain data shows that new capital inflows are still limited, and the sluggish summer trading further limits market activity. Analysts believe that new macro catalysts are still needed to break the current pattern. In the short term, although Bitcoin prices have room to rise slowly, the probability of a rapid rise is low. Matrixport recommends that long investors hedge potential risks by selling call options.