Can Bitcoin Restart Its Uptrend? Here’s What You Need to Know

Bitcoin has fallen below $90,000 today after a 17.67% drop in November.

Stablecoin inflows to the cryptocurrency exchange have decreased by 50% from $158 billion in August to now $76 billion.

High stablecoin market values did not lead to a Bitcoin rally.

Bitcoin (BTC) dipped below the $90,000 level again today during early Asian trading hours, despite positive macroeconomic catalysts.

An analyst emphasized that the ongoing weakness in Bitcoin is rooted in the decline of stablecoin inflows and pointed out that fresh liquidity is essential for a new upward rally.

At the time of writing, BTC is trading at $89,885, reflecting a 2.7% drop in the last 24 hours. This decline is noteworthy despite the Federal Reserve's decision yesterday to cut interest rates for the third time this year.