Glassnode: Stablecoin Supply Falls $14.2B
Glassnode reports total stablecoin supply contracted $14.2B over 30 days, the fastest pace since June 2022, with a return to growth needed as the first signal of fresh capital entering the market.
SourceAnalysis
Glassnode data shows total stablecoin supply dropped $14.2B in the past 30 days, the sharpest contraction since June 2022, as Bitcoin grinds lower amid reduced liquidity inflows.
A reversal to positive growth in stablecoin reserves would mark the initial evidence of new money returning to crypto markets, according to the on-chain analytics firm.
Bitcoin trades at $73733.99 on the 4h chart inside a bearish structure with price below both the EMA50 at $75779.47 and EMA200 at $79324.56, establishing those moving averages as key overhead resistance. The MACD registers a bullish golden cross at -659.35 while RSI sits neutral at 39.39, and price remains contained within the Bollinger Bands between lower support at $72861.29 and upper resistance at $76308.64. With price testing the upper band while the broader trend stays bearish, a retracement toward the 50-EMA support appears probable before any sustained upside attempt.
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