In a fascinating twist, historical data suggests that spikes in the supply of the stablecoin TrueUSD (TUSD) often precede significant Bitcoin price rallies. This correlation was seen in early May 2021 and mid-July when increases in TUSD supply were followed by remarkable Bitcoin rallies. This pattern was again noticed in February 2023 and most recently in June. Unlike other stablecoins, this correlation seems unique to TUSD. But what makes the recent surge in TUSD supply even more intriguing? Does it signal another Bitcoin rally or...
Could a new surge in TUSD supply trigger another Bitcoin rally? Could a new surge in TUSD supply trigger another Bitcoin rally?
Following a $250 million increase in TUSD supply, we explore the historical trend where such spikes have preceded Bitcoin price rallies.
2 min read
Updated: Jul. 31, 2023 at 2:26 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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TrueUSD, a USD-backed stablecoin you can exchange and trust.
Bitcoin
$98,595.28
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
