10x Research: Stablecoins replace ETFs as Bitcoin’s key driver! ENA looks at $5

This site (120btC.coM): Markus Thielen, founder of the analysis agency 10x Research and Matrixport analyst, suddenly made his subscription article on April 8 public. Let’s take a look. What did he say.

Stablecoins replace ETFs and become the key driving force of Bitcoin

Markus Thielen has previously expressed his bullish stance on the future of Bitcoin, saying that Bitcoin will break through the triangle pattern in the next few weeks, with a target price $83,000.

He claimed that his portfolio was relatively neutral in March and did not trade during the period of Bitcoin volatility, but there are currently many tokens in the market approaching key breakout levels, and he also finds that there is no need to Continue to worry about net outflows from ETFs.

He said: Three weeks ago we were worried about a sharp decline in Bitcoin ETF flows, but then Bitcoin traded within a volatile range, and we found that the key upward momentum was stablecoins rather than Bitcoin ETF flows. This realization Let’s be bullish again, Bitcoin could be on the verge of seeing huge gains.

He also quoted Cointelegraph’s report and pointed out that Bitcoin tends to surge during European trading hours, which proves that everyone’s focus on the US Bitcoin spot ETF needs to change.

The chart below shows that since January, the flow of stablecoins has been US$19.6 billion, which is higher than the US$12.7 billion of ETFs. Markus Thielen calls on everyone to pay more attention to Tether and Circle.

Stablecoin, ETF traffic

Ethena (ENA) looks at $5

Markus Thielen mentioned ENA as his altcoin investment The first choice for the combination, and with USDe including Bitcoin as collateral and the launch of the second quarter points program, it means more demand for Bitcoin purchases, and the Ethena protocol TVL will also rise.

He predicted that if TVL reaches 10 billion US dollars, the ENA price may reach 5 US dollars.

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