Glassnode identifies Bitcoin's largest liquidation cluster near $60k from longs opened near the bottom and untouched since the August rally, coinciding with the fastest stablecoin supply contraction since June 2022.

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.