Stablecoin Issuance Drives Bitcoin Surge to $65,000

According to Odaily, Matrixport has released data indicating that the strong issuance of stablecoins over the past two to three weeks has been a key driver behind Bitcoin's rise to $65,000. While there have been inflows into Bitcoin spot ETFs, the consistent issuance of stablecoins, which serve as the primary fiat on-ramp for cryptocurrencies, appears to be the main catalyst for this upward movement. This trend suggests that institutional investors may be the primary force behind Bitcoin's recent surge. Over the past two weeks, this factor has been repeatedly emphasized as the most significant, even surpassing the influence of macroeconomic and monetary policies.