Been watching the market for last few days and honestly Glassnode report makes sense now. Stablecoin supply down $14.2B in 30 days. That means no fresh money is coming in. So don't expect any crazy pump soon.

My take:

Short term (1-2 weeks): BTC will just keep ranging between $72k - $75.6k. Boring market. If $72k breaks, we can see $69k pretty fast because everyone is hedged there. But if we hold $73.2k, we are fine.

Medium term: Until stablecoin supply goes back above $285B from $280B, forget about bull run. It can take 3-4 weeks for money to come back. ETF outflows are still there, small but still there. So patience is key here.

One good thing: Last time same thing happened in June 2022, after stablecoin supply started rising again market did 2x. So this fear is actually setting up the next move. Just not yet.

I'm not buying in hurry. Waiting for ETF outflow to stop and stablecoin supply to turn green. Till then, sideways is the game.

What you guys think? Are you buying this dip or waiting?

This is not financially advice..dyor