BITCOIN IS GETTING CHEAPER — BUT WHERE IS THE BUYING POWER?
BTC slipped toward $69K as the broader crypto market continued to sell off
But the bigger warning isn't on the price chart
Glassnode reports that stablecoin supply contracted by $14.2B over 30 days through November 9 — the sharpest decline since June 2022
That's a major change in the market's liquidity backdrop
$BTC
💸 Stablecoins are potential buying power for crypto traders
When that pool shrinks, a rebound may have less fresh capital supporting it
But there's an important distinction
⚠️ Declining stablecoin supply doesn't mean every dollar was withdrawn by investors, and it cannot predict Bitcoin's next move
Glassnode also reports accumulation by two large wallet cohorts, while some leveraged positions have already been cleared
🔎 A sustained recovery in stablecoin supply, supported by stronger spot demand, would weaken the bearish liquidity argument
A cheap Bitcoin price alone doesn't create buyers
The capital willing to buy matters just as much
#bitcoin #CryptoLiquidity
BTC slipped toward $69K as the broader crypto market continued to sell off
But the bigger warning isn't on the price chart
Glassnode reports that stablecoin supply contracted by $14.2B over 30 days through November 9 — the sharpest decline since June 2022
That's a major change in the market's liquidity backdrop
$BTC
💸 Stablecoins are potential buying power for crypto traders
When that pool shrinks, a rebound may have less fresh capital supporting it
But there's an important distinction
⚠️ Declining stablecoin supply doesn't mean every dollar was withdrawn by investors, and it cannot predict Bitcoin's next move
Glassnode also reports accumulation by two large wallet cohorts, while some leveraged positions have already been cleared
🔎 A sustained recovery in stablecoin supply, supported by stronger spot demand, would weaken the bearish liquidity argument
A cheap Bitcoin price alone doesn't create buyers
The capital willing to buy matters just as much
#bitcoin #CryptoLiquidity
