A widely followed crypto analyst is warning that Bitcoin (BTC) and other digital assets could see a deeper market correction due to one factor.
In a new strategy session, DataDash host Nicholas Merten tells his 512,000 YouTube subscribers that stablecoin liquidity is a significant indicator of crypto market trends.
He warns that stablecoin liquidity continues to contract, which could indicate Bitcoin and other digital assets will see additional downward price action.
“If we are going to be in an environment where liquidity is contracting, how is that going to impact crypto? Let’s just take a look here at the growing importance of liquidity.
We can see here that, for example, from April 2019 towards July 2019, when we had a first initial relief rally