Stablecoin supply just shrank by 14.2 billion dollars in 30 days. That is the biggest contraction since June 2022. 📊
Glassnode data reported by KuCoin shows stablecoin supply fell 14.2 billion dollars over the past month, the largest drop since the June 2022 crash, which means the cash available to buy crypto keeps getting smaller. 📉 My reading is that this is the quiet reason Bitcoin cannot bounce yet, because every rally needs fresh dollars entering the market, and right now dollars are leaving faster than they arrive, while ETF outflows of 1.44 billion dollars in five sessions pull even more out. Price follows money, and the money flow is still pointing out the door.
Does the stablecoin drain stop soon, or does it keep starving every bounce? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Stablecoin
Glassnode data reported by KuCoin shows stablecoin supply fell 14.2 billion dollars over the past month, the largest drop since the June 2022 crash, which means the cash available to buy crypto keeps getting smaller. 📉 My reading is that this is the quiet reason Bitcoin cannot bounce yet, because every rally needs fresh dollars entering the market, and right now dollars are leaving faster than they arrive, while ETF outflows of 1.44 billion dollars in five sessions pull even more out. Price follows money, and the money flow is still pointing out the door.
Does the stablecoin drain stop soon, or does it keep starving every bounce? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Stablecoin
