Calling the "end of Bitcoin" over a $14.2B stablecoin contraction misses the bigger picture. 📊
Equating today’s orderly fiat redemptions to the 2022 Terra collapse is a false equivalence.
2022 was a systemic credit implosion driven by algorithmic failures.
Today’s outflow represents less than 5% of a much deeper ~$290B liquidity base -driven by macro caution and routine profit-taking, not insolvency.
Short-term liquidity tightening is cyclical, not a death spiral. Know the difference between structural collapse and a market reset.
Accumulation Period Running
$BTC $ETH $BNB #Bitcoin #BTC #Macro #Glassnode #CoinVahini
Equating today’s orderly fiat redemptions to the 2022 Terra collapse is a false equivalence.
2022 was a systemic credit implosion driven by algorithmic failures.
Today’s outflow represents less than 5% of a much deeper ~$290B liquidity base -driven by macro caution and routine profit-taking, not insolvency.
Short-term liquidity tightening is cyclical, not a death spiral. Know the difference between structural collapse and a market reset.
Accumulation Period Running
$BTC $ETH $BNB #Bitcoin #BTC #Macro #Glassnode #CoinVahini
