{"id":544817,"date":"2023-07-28T15:00:16","date_gmt":"2023-07-28T15:00:16","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=544817"},"modified":"2024-06-11T08:10:49","modified_gmt":"2024-06-11T08:10:49","slug":"bitcoin-rally-may-not-resume-until-this-happens","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/","title":{"rendered":"Bitcoin Rally May Not Resume Until This Happens"},"content":{"rendered":"

Bitcoin has continued to stagnate recently as another recovery move has failed to prosper. So here’s an indicator that may hint when a break could happen.<\/p>\n

Bitcoin Rally May Not Resume Until The Stablecoin Market Cap Goes Up<\/h2>\n

Around the start of this week, Bitcoin observed a sharp plunge that had taken the asset’s price from the $30,000 level down to the $29,000 mark. A couple of days back, however, the coin had started surging again and had reclaimed the $26,600 level.<\/p>\n

This uplift in the price had come as the US Fed had announced a 25 bps interest rate hike<\/a>, but before long, the recovery efforts had run out of steam, and now, the cryptocurrency has already retraced its gains from the rally.<\/p>\n

\"Bitcoin<\/p>\n

BTC has gone back towards the $29,000 level recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Earlier, Bitcoin had been stuck in a phase of stagnation above the $30,000 level for more than a month, but with the plunge in the price, this streak had been broken.<\/p>\n
Related Reading: PEPE Whales Load Up Their Bags As Memecoin Jumps 13%<\/a><\/div>\n
The asset now sticking near the $29,000 level may mean, however, that volatility hasn’t truly returned for the asset yet, as it still continues to consolidate, just around a different level. When a true break away from this stagnation may happen and the rally would return could possibly depend on the total supply of all the stablecoins<\/a>.<\/p>\n
As explained by an analyst in a CryptoQuant post<\/a>, range-breaking price rises in Bitcoin this year have generally only come whenever the stablecoin supply has registered an increase.<\/p>\n
\"Bitcoin<\/p>\n
The value of the metric seems to have been heading down in recent days | Source: CryptoQuant<\/a><\/pre>\n
As the quant has marked in the chart, the major price increases in the past few months have generally preceded a sharp local increase in the supply of the stablecoins.<\/p>\n
Usually, an increase in the stablecoin supply can suggest two things. First, there may be a fresh injection of capital happening into the market, as investors ask for more of these fiat-tied tokens to be minted.<\/p>\n
And second, some holders of other coins like Bitcoin may be selling their coins to seek the relative safety that the stablecoins offer. Either way, such investors who hold their capital in the form of stables do so because they eventually plan to dip (back) into the volatile side of the market.<\/p>\n
Due to this reason, the total stablecoin supply may be looked at as a store of buying pressure that can be deployed into assets like Bitcoin.<\/p>\n
From the chart, it’s visible that it hasn’t exactly been the increase in the stablecoin supply that has fueled the price surges this year, but rather the decline in the metric that followed shortly after.<\/p>\n
Related Reading: Bitcoin At Decision Point As Investors Hold Neutral Sentiment<\/a><\/p>\n
These decreases in the supply suggested a transfer of capital into Bitcoin and others, which is why their prices observed a bullish boost<\/a>. It’s also visible in the graph, however, that the stablecoin supply has been on a net decline in this period, meaning that the dry powder tied up in these tokens has been constantly running out.<\/p>\n
Based on this trend, if the stablecoin supply doesn’t see another major cash injection in the coming days, then the Bitcoin rally may not be able to resume.<\/p>\n
At the time of writing, Bitcoin is trading around $29,200, down 1% in the last 24 hours.<\/p>\n
Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has continued to stagnate recently as another recovery move has failed to prosper. So here’s an indicator that may hint when a break could happen. Bitcoin Rally May Not Resume Until The Stablecoin Market Cap Goes Up Around the start of this week, Bitcoin observed a sharp plunge that had taken the asset’s price from the $30,000 level down to the $29,000 mark. A couple of days back, however, the coin had started surging again and had reclaimed the $26,600 level. This uplift in the price had come as the US Fed had announced a 25 bps interest rate hike, but before long, the recovery efforts had run out of steam, and now, the cryptocurrency has already retraced its gains from the rally. BTC has gone back towards the $29,000 level recently | Source: BTCUSD on TradingView Earlier, Bitcoin had been stuck in a phase of stagnation above the $30,000 level for more than a month, but with the plunge in the price, this streak had been broken. Related Reading: PEPE Whales Load Up Their Bags As Memecoin Jumps 13% The asset now sticking near the $29,000 level may mean, however, that volatility hasn’t truly returned for the asset yet, as it still continues to consolidate, just around a different level. When a true break away from this stagnation may happen and the rally would return could possibly depend on the total supply of all the stablecoins. As explained by an analyst in a CryptoQuant post, range-breaking price rises in Bitcoin this year have generally only come whenever the stablecoin supply has registered an increase. The value of the metric seems to have been heading down in recent days | Source: CryptoQuant As the quant has marked in the chart, the major price increases in the past few months have generally preceded a sharp local increase in the supply of the stablecoins. Usually, an increase in the stablecoin supply can suggest two things. First, there may be a fresh injection of capital happening into the market, as investors ask for more of these fiat-tied tokens to be minted. And second, some holders of other coins like Bitcoin may be selling their coins to seek the relative safety that the stablecoins offer. Either way, such investors who hold their capital in the form of stables do so because they eventually plan to dip (back) into the volatile side of the market. Due to this reason, the total stablecoin supply may be looked at as a store of buying pressure that can be deployed into assets like Bitcoin. From the chart, it’s visible that it hasn’t exactly been the increase in the stablecoin supply that has fueled the price surges this year, but rather the decline in the metric that followed shortly after. Related Reading: Bitcoin At Decision Point As Investors Hold Neutral Sentiment These decreases in the supply suggested a transfer of capital into Bitcoin and others, which is why their prices observed a bullish boost. It’s also visible in the graph, however, that the stablecoin supply has been on a net decline in this period, meaning that the dry powder tied up in these tokens has been constantly running out. Based on this trend, if the stablecoin supply doesn’t see another major cash injection in the coming days, then the Bitcoin rally may not be able to resume. At the time of writing, Bitcoin is trading around $29,200, down 1% in the last 24 hours. Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":544862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,6481,1119,1144,87751,15241],"class_list":["post-544817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-rally","tag-btc","tag-btcusd","tag-stablecoin-supply","tag-stablecoins"],"acf":[],"yoast_head":"\nBitcoin Rally May Not Resume Until This Happens<\/title>\n<meta name=\"description\" content=\"Bitcoin has continued to stagnate as another recovery move has died out. Here's an indicator that may hint when a proper break could happen.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Rally May Not Resume Until This Happens\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has continued to stagnate as another recovery move has died out. Here's an indicator that may hint when a proper break could happen.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-28T15:00:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:10:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414\" \/>\n\t<meta property=\"og:image:width\" content=\"2121\" \/>\n\t<meta property=\"og:image:height\" content=\"1414\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keshav Verma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/keshavvarma29\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Keshav Verma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\"},\"author\":{\"name\":\"Keshav Verma\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6\"},\"headline\":\"Bitcoin Rally May Not Resume Until This Happens\",\"datePublished\":\"2023-07-28T15:00:16+00:00\",\"dateModified\":\"2024-06-11T08:10:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\"},\"wordCount\":561,\"publisher\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414\",\"keywords\":[\"bitcoin\",\"bitcoin rally\",\"btc\",\"btcusd\",\"Stablecoin Supply\",\"Stablecoins\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\",\"url\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\",\"name\":\"Bitcoin Rally May Not Resume Until This Happens\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414\",\"datePublished\":\"2023-07-28T15:00:16+00:00\",\"dateModified\":\"2024-06-11T08:10:49+00:00\",\"description\":\"Bitcoin has continued to stagnate as another recovery move has died out. Here's an indicator that may hint when a proper break could happen.\",\"breadcrumb\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage\",\"url\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414\",\"contentUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414\",\"width\":2121,\"height\":1414,\"caption\":\"Close up financial chart with uptrend line graph in stock market background\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/shenyangcang.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Rally May Not Resume Until This Happens\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/shenyangcang.com\/#website\",\"url\":\"https:\/\/shenyangcang.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/shenyangcang.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/shenyangcang.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/shenyangcang.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6\",\"name\":\"Keshav Verma\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g\",\"caption\":\"Keshav Verma\"},\"description\":\"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/keshavverma29\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29\"],\"url\":\"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Rally May Not Resume Until This Happens","description":"Bitcoin has continued to stagnate as another recovery move has died out. Here's an indicator that may hint when a proper break could happen.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Rally May Not Resume Until This Happens","og_description":"Bitcoin has continued to stagnate as another recovery move has died out. Here's an indicator that may hint when a proper break could happen.","og_url":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-07-28T15:00:16+00:00","article_modified_time":"2024-06-11T08:10:49+00:00","og_image":[{"width":2121,"height":1414,"url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414","type":"image\/jpeg"}],"author":"Keshav Verma","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/keshavvarma29","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Keshav Verma","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#article","isPartOf":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/"},"author":{"name":"Keshav Verma","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6"},"headline":"Bitcoin Rally May Not Resume Until This Happens","datePublished":"2023-07-28T15:00:16+00:00","dateModified":"2024-06-11T08:10:49+00:00","mainEntityOfPage":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/"},"wordCount":561,"publisher":{"@id":"https:\/\/shenyangcang.com\/#organization"},"image":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414","keywords":["bitcoin","bitcoin rally","btc","btcusd","Stablecoin Supply","Stablecoins"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/shenyangcang.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/","url":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/","name":"Bitcoin Rally May Not Resume Until This Happens","isPartOf":{"@id":"https:\/\/shenyangcang.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage"},"image":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414","datePublished":"2023-07-28T15:00:16+00:00","dateModified":"2024-06-11T08:10:49+00:00","description":"Bitcoin has continued to stagnate as another recovery move has died out. Here's an indicator that may hint when a proper break could happen.","breadcrumb":{"@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#primaryimage","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414","contentUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414","width":2121,"height":1414,"caption":"Close up financial chart with uptrend line graph in stock market background"},{"@type":"BreadcrumbList","@id":"https:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/shenyangcang.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Rally May Not Resume Until This Happens"}]},{"@type":"WebSite","@id":"https:\/\/shenyangcang.com\/#website","url":"https:\/\/shenyangcang.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/shenyangcang.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/shenyangcang.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/shenyangcang.com\/#organization","name":"NewsBTC","url":"https:\/\/shenyangcang.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6","name":"Keshav Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Rally May Not Resume Until This Happens","url":"http:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-rally-may-not-resume-until-this-happens\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin rally","btc","btcusd","stablecoin supply","stablecoins"],"dateCreated":"2023-07-28T15:00:16Z","datePublished":"2023-07-28T15:00:16Z","dateModified":"2024-06-11T08:10:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Rally May Not Resume Until This Happens\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-rally-may-not-resume-until-this-happens\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-rally-may-not-resume-until-this-happens\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1367449613-1-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1367449613-1-1.jpg?fit=2121%2C1414\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin rally\",\"btc\",\"btcusd\",\"stablecoin supply\",\"stablecoins\"],\"dateCreated\":\"2023-07-28T15:00:16Z\",\"datePublished\":\"2023-07-28T15:00:16Z\",\"dateModified\":\"2024-06-11T08:10:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1367449613-1-1.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/544817"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=544817"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/544817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/544862"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=544817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=544817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=544817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}