All eyes are on Bitcoin, but stablecoins might be the real one to watch. 👀

With steady Bitcoin ETF inflows and the recent 'halving' dominating the news cycle, you'd think Bitcoin would be seeing much more favorable price action. So why isn't it?

According to some analysts, the culprit might be the last thing you'd expect: stablecoins.

Stablecoins like USDC, USDt and others peg their price to the U.S. dollar and are often used as a way to hedge crypto investments or temporarily "cash out" while still keeping funds on-chain.

Over the years, stablecoins have functioned as an essential component for nearly all on-chain crypto purchases and derivatives trading, but their significance extends beyond their base utility.

While good news for Bitcoin usually means good news for the entire crypto market, stablecoin market caps can have an even more substantial impact on long-term price action as they often function as a liquidity reserve, allowing traders and institutions to instantly inject more capital into other crypto assets when they feel the time is right.

Stablecoin market caps have remained relatively strong in recent months. But, if they truly act as an untapped liquidity reserve for Bitcoin purchases, is there enough to drive it to the $100,000 mark that so many Twitter users have called for?

With the way Bitcoin has been bouncing around the $63-67k range, it's looking like we might be waiting a while before we see that post-halving tear we've all been praying for. Fortunately, while you wait for a wall of stablecoin money to pour out across all of our favorite tokens, you can start trading on the short-term volatility now with Giddy's new V2 priority trading.

We've upgraded our swaps to find priority trade routes that save you time and money, as well as released our first cross-chain bridge between Bitcoin and Ethereum so you can chain-hop with a single tap.

Try out Giddy's fully self-custody multi-chain storage, trading, and cross-chain capabilities today. 🤠