📉 Stablecoins are shrinking — and spot traders should watch this.
Tether's USDT supply has dropped $6.6B in 60 days (CryptoQuant). Less dry powder sitting on the sidelines while $BTC holds ~$73,885, right near its 200-day average (~$73,200).
Spot BTC ETFs are still bleeding — $95M out on Nov 10, day 4 in a row — but the pace is slowing: $430M → $412M → $201M → $95M. Meanwhile Nasdaq jumped ~1.7% and BTC barely moved.
Key levels: support $73,100 / $72,700, resistance $74,500 / $75,000. Reclaim $75K and the mood flips.
Not financial advice. DYOR.
Tether's USDT supply has dropped $6.6B in 60 days (CryptoQuant). Less dry powder sitting on the sidelines while $BTC holds ~$73,885, right near its 200-day average (~$73,200).
Spot BTC ETFs are still bleeding — $95M out on Nov 10, day 4 in a row — but the pace is slowing: $430M → $412M → $201M → $95M. Meanwhile Nasdaq jumped ~1.7% and BTC barely moved.
Key levels: support $73,100 / $72,700, resistance $74,500 / $75,000. Reclaim $75K and the mood flips.
Not financial advice. DYOR.