Matrixport: Stablecoin Minting Drives Bitcoin Surge

ChainCatcher message, Matrixport released a chart stating that the stablecoin minting volume has remained strong over the past 2-3 weeks, which is a key driver for Bitcoin's rebound to 65,000.

Although there has been capital inflow into Bitcoin spot ETFs, stablecoins, as the primary fiat on-ramp for cryptocurrencies, seem to be the main driving force behind this stable minting. This trend indicates that institutional investors may be the primary drivers of Bitcoin's rise.
We have also emphasized multiple times over the past two weeks that this remains the most important factor, with its influence even surpassing macroeconomic conditions and monetary policy.