"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today as bitcoin hovers around the $66,000 level, holding on to losses during the Asian trading hours.Bitcoin is down but Stablecoin expansion continues. Reassuring stability to Bitcoin Bulls. You're watching Coindesk Daily, I'm your host, Jen Sani Bitcoin is back down to $66,000 this morning as rising treasury yields catch investor interest.
Bitcoin was changing hands this morning at around $66,000 down from its record high of $73,500 on March 14th. During the same time, the cumulative supply of the top three Stablecoins US DT US DC and die increased by 2.1% to 100 and $41.42 billion reaching its highest level since May 2022. According to data from trading view, a reflexivity research newsletter said that as stablecoin supply continues to trend up, this shows that capital continues to flow into crypto markets.
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