比特幣（BTC）價格加速正在與Stablecoin流動性的主要擴張一起展開

比特幣最近的價格加速正在與Stablecoin流動性的重大擴張以及過去20天的Tether（USDT）市值增長6億美元的標誌。

Recent on-chain data from CryptoQuant has revealed a striking correlation between major expansions in stablecoin liquidity and Bitcoin’s (BTC) price acceleration.

CryptoQuant的最新鏈上數據表明，Stablecoin流動性的主要擴張與比特幣（BTC）價格加速之間存在著驚人的相關性。

As the cryptocurrency market adjusts to new trends in market share, the role of stablecoins like Tether’s (USDT) in fueling broader market liquidity becomes increasingly apparent.

隨著加密貨幣市場適應市場份額的新趨勢，諸如Tether's（USDT）在加油更廣泛的市場流動性中的穩定幣的作用變得越來越明顯。

In the past 20 days alone, there has been a $6 billion rise in Tether’s market capitalization. With the total USDT supply now nearing $150 billion, a recurring pattern of increased issuance coinciding with positive price momentum in Bitcoin is evident.

僅在過去的20天中，繫繩的市值增長了60億美元。由於現在的全年供應總額接近1500億美元，因此，與比特幣的正價格勢頭相吻合的發行量的反復出現的模式顯而易見。

USDT Inflows Fuel Bitcoin’s Rally From $90,000

USDT從90,000美元中流入燃料比特幣的集會

USDT從90,000美元中流入燃料比特幣的集會

According to CryptoQuant’s 30-day USDT market cap change chart, a green spike in early May 2025 marks the surge in newly issued stablecoins, reaching the highest inflow levels since March.

根據CryptoQuant的30天USDT市場上限變更圖表的數據，2025年5月初的綠色飆升標誌著新發行的Stablecoins的激增，達到了3月以來的最高流入水平。

This massive influx coincides with Bitcoin’s ascent towards the $100,000 milestone, showcasing a sustained uptrend that commenced in late 2023.

這種大量的湧入與比特幣邁向了100,000美元的里程碑的上升，展示了2023年末開始的持續上升趨勢。

As Bitcoin dominance has declined while Ethereum’s share has grown, it appears that a portion of the USDT inflows are being allocated into other digital assets. This capital redistribution aligns with broader market behavior in past cycles, where increased stablecoin availability supports rising valuations across multiple crypto assets. The data points to a diversified allocation strategy by traders and institutions as liquidity deepens.

隨著比特幣的優勢在以太坊的份額增長的同時下降，似乎一部分USDT流入正在分配給其他數字資產中。在過去的周期中，這種資本重新分配與更廣泛的市場行為相吻合，在過去的循環中，穩定的可用性增加了多個加密資產的估值上升。數據表明，隨著流動性的加深，交易者和機構的分配策略多樣化。

The chart also highlights two significant dates: December 16 and September 22, which may correspond to macroeconomic developments or ETF-related announcements, affecting liquidity.

該圖表還強調了兩個重要日期：12月16日和9月22日，可能對應於宏觀經濟發展或與ETF相關的公告，影響流動性。

Is A Decrease In USDT Issuance Imminent?

USDT發行即將下降？

Ultimately, the broader upward trend of USDT supports the growing liquidity in the crypto space. With now $ 150 billion as its market cap at a highest level, Tether’s position as a liquidity force in digital finance is evident.

USDT發行即將下降？最終，USDT的更廣泛的向上趨勢支持加密貨幣領域的流動性日益增長。目前，憑藉最高水平的市值為1500億美元，特特（Tether）在數字融資中作為流動性力量的地位顯而易見。

With such stellar performance, it remains to be seen if there will be a slowdown in USDT issuance going forward. Historically, periods of decreasing or stagnant USDT issuance, like those seen in late 2022 and early 2025, have coincided with price stagnation or declines in Bitcoin.

憑藉如此出色的表現，如果USDT發行會放緩，還有待觀察。從歷史上看，像2022年底和2025年初所看到的那樣，發行的時期與價格停滯或比特幣的下降相吻合。

However, the cryptocurrency is quickly shifting with new trends in DeFi and the metaverse.

但是，加密貨幣正在迅速隨著Defi和Metaverse的新趨勢而迅速轉移。