The future direction of cryptocurrency prices may be indicated by the number of short-term BTC holders and the amount of stablecoin supplies available

Despite the Federal Open Market Committee (FOMC) increasing interest rates by 25 basis points, two cryptocurrency indicators, stablecoin supply and the profitability of bitcoin held by short-term investors, are expected to have a greater impact on investors than the FOMC decision. Currently, 97.5% of bitcoin's circulating supply held by short-term investors is profitable, while the supply held by long-term holders has increased by 5% over the past year. However, monitoring short-term holders and the supply of stablecoins is crucial to determine whether BTC prices will decline or increase. An increase in stablecoin supply indicates more capital is available for deployment, making it an attractive development for investors with a bullish view on BTC.