Chart of the Day
The Stablecoin Supply Ratio (SSR) has been trending up in recent weeks despite Tether treasury reaching a plateau since early June, which suggests that capital has been gradually flowing back from stablecoins into Bitcoin. A low supply ratio indicates that stablecoins currently have more buying power to acquire BTC, and therefore, is a proxy to the supply/demand dynamic between BTC and USD. Historical data suggest that SSR lows usually coincide with BTC price corrections, and hopefully the current uptrend will shake BTC from its bearish slumber.