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Bitcoin Price Eyes $60K as Stablecoins on Exchanges at All-Time High

After a slow weekend where the price more or less remained unchanged, Bitcoin made a move today, giving new bullish targets.
There might be a reason for that, according to analysts at CryptoQuant.
Bitcoin Price Eyes $60K
Earlier today, CryptoPotato reported that Bitcoin’s price appeared stuck around $55K despite the volatility during the weekend.
However, being the beginning of a new week, Monday saw positive developments in regards to the price, as BTC soared around $3,500 in a matter of hours, poking above $58K.
From a technical perspective, this revealed a couple of things. First, it showed that there is significant demand below $55K as bulls didn’t let the price rest there for a long time. The dips got scooped, and the recovery was relatively quick.
Second, BTC is currently battling a major resistance level at the area between $58,000 and $58,350. This is the previous ATH from February 21st (at $58,350), and it’s also marked by a descending trend-line, meaning that it’s to be considered. In any case, above this, the next target appears to be $60K.
Stablecoins on Exchanges at ATH: The Reason for the Pump?
Few things happened today that could have acted as catalysts for the most recent gains. First, the world’s largest payment processor, Visa, announced that they will be settling USDC transactions on Ethereum. While it might seem like a headline that would prompt gains in ETH, the truth is that it’s an announcement that drives the entire cryptocurrency industry forward.
And …
Story continues on Crypto Potato

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