Tether and Circle issued nearly 2.8 billion US dollars in stablecoins last week, which may drive Bitcoin to rise

10x Research states that monitoring and analyzing the flow of cryptocurrency funds is crucial for assessing market conditions, and it could be an indicator of whether Bitcoin and other cryptocurrencies are on an upward or downward trend. Since the general flow of money essentially stopped in early April 2024, a subsequent price adjustment was expected. However, as the market approached its bottom, a rebound in certain fund flows helped boost prices. The key factor is to monitor the sustainability of these fund flows because without sustained support, rebounds often lose momentum. Last night, Tether issued an additional $1 billion USDT (although it seems to be inventory building rather than immediate issuance). However, earlier last week, Tether and Circle issued nearly $2.8 billion stablecoins indicating some institutional investors are injecting new funds into the crypto market. If this issuance trend (not just minting) continues, Bitcoin may rise further.