10x Research: The issuance of stablecoins indicates that institutions are injecting new funds. If the issuance trend continues, Bitcoin may rise

10x Research said in its analysis that monitoring and analyzing cryptocurrency fund flows is critical to assessing market conditions and could be an indicator of upside or downside for Bitcoin and other cryptocurrencies. Since broad money flows essentially stopped in early April 2024, a subsequent price correction is expected. However, as the market neared the bottom, a pick-up in certain fund flows helped boost prices. The key factor is to monitor the sustainability of these fund flows, as rallies tend to lose momentum without sustained support. Last night, Tether issued an additional $1 billion in USDT (although it appears to be an inventory build rather than an immediate issuance). However, earlier last week, Tether and Circle issued nearly $2.8 billion in stablecoins, suggesting that some institutional investors are injecting new money into the crypto market. If this trend of issuance (not just minting) continues, Bitcoin could rise further.