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▲ Bitcoin (BTC)
Bitcoin (BTC) recently rebounded by over 8%, but unlike past rallies, this uptrend did not heavily rely on large-scale USDT issuance. Analysis suggests that existing market funds and spot demand, rather than new stablecoin liquidity inflows, are driving the price recovery.
CryptoBasic reported on May 11 (local time), citing analysis by CryptoQuant certified analyst Maartunn, that a different market structure compared to previous trends has been observed in Bitcoin's recent upward movement. According to the article, Bitcoin dropped to $74,912 on April 29, then rose 8.22% over 12 days, recovering the $80,000 level. However, despite a recent 1.58% drop, Bitcoin was trading at approximately $81,070 as of the time of writing.
Maartunn explained that while large-scale USDT issuance supported Bitcoin's price recovery during the initial upward phase over the past two weeks, the additional gains in recent days occurred without a similar level of issuance. He commented, suggesting 'this time is different,' noting that previous price increases relied on strong USDT issuance, whereas the issuance volume in recent movements has been significantly lower.
CryptoBasic explained that strong Bitcoin rallies from late 2024 through a significant portion of 2025 coincided with large-scale USDT issuance. At that time, newly issued USDT flowed into exchanges, was used to buy Bitcoin, and acted as liquidity pushing up prices. In contrast, the current rally is continuing even without a significant increase in new stablecoin supply.
Such changes suggest that existing funds within the market, strong spot buying, and reduced selling pressure are likely driving Bitcoin's recent recovery. The decreased reliance on new liquidity injections is seen as an indication that the market structure is shifting towards a more natural and stable demand base.
However, the absence of large-scale USDT issuance has also been presented as a factor limiting the potential for short-term surges. CryptoBasic stated that without a strong influx of new liquidity, Bitcoin might experience gradual rises and periodic corrections rather than rapid spikes. The recent 1.58% drop was also mentioned as part of this trend.
From a technical perspective, $80,000 was presented as a major support level, and the $82,000 to $85,000 range was identified as a key resistance zone. Breaking through this range would confirm the continuation of the uptrend, and future USDT issuance, exchange inflows, and changes in stablecoin balances could influence market direction.
Analyst Jaoa Marks observed that Bitcoin showed strong momentum after its breakout and could be in the early stages of a larger rally. He suggested the possibility of Bitcoin rising an additional approximately 53% to $124,697. Another analyst, Ali Martinez, identified $82,500, where the 200-day Simple Moving Average is located, as a key resistance level. He analyzed that if Bitcoin breaks this level, a rally towards $94,000 is possible, but if it fails to break through, it could retest the 50-day Simple Moving Average at $75,000.
Bitcoin's recent rise is proceeding based on existing liquidity and spot demand, largely without relying on new USDT issuance. CryptoBasic reported that while this structure could create a more stable foundation for growth, the pace of the rise might be slower than past rallies accompanied by large-scale liquidity injections.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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