Stablecoins are quietly draining — and spot traders should be watching.
Glassnode: stablecoin supply shrank $14.2B in 30 days — the fastest contraction since June 2022. That's dry powder leaving the market right as $BTC broke below $70K.
Less stablecoin supply = less fuel for spot buying. BTC is holding ~$68,900 near its 200-week average (~$68K), down -3.6% today after touching $67,568. $1.6B in liquidations in 24h, Fear & Greed at 20 (extreme fear).
Watch the stablecoin flows — when supply starts growing again, that's when spot demand comes back.
Not financial advice. DYOR.
#Bitcoin #Crypto #Stablecoins
Glassnode: stablecoin supply shrank $14.2B in 30 days — the fastest contraction since June 2022. That's dry powder leaving the market right as $BTC broke below $70K.
Less stablecoin supply = less fuel for spot buying. BTC is holding ~$68,900 near its 200-week average (~$68K), down -3.6% today after touching $67,568. $1.6B in liquidations in 24h, Fear & Greed at 20 (extreme fear).
Watch the stablecoin flows — when supply starts growing again, that's when spot demand comes back.
Not financial advice. DYOR.
#Bitcoin #Crypto #Stablecoins