TREE NEWS reports: Stablecoin total supply contracted by $14.2 billion over the past 30 days, the fastest decline since June 2022, as bitcoin traded near $74,000 below its $75,600 short-term holder cost basis. US spot bitcoin ETFs recorded $1.6 billion in net outflows over 20 trading days, and Coinbase’s premium index stayed negative. Leverage near current prices has largely been flushed, with two large wallet cohorts resuming accumulation.
Stablecoin Supply Shrinks $14.2B in 30 Days, Fastest Since June 2022
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AI take
The contraction in stablecoin supply alongside persistent ETF outflows and a negative Coinbase premium points to a broad de-risking across both on-chain liquidity and regulated access channels, rather than a single-venue squeeze. The flushing of leverage near current prices, paired with renewed accumulation by large wallet cohorts, suggests the market may be transitioning from forced selling toward a quieter positioning phase. The open question is whether stablecoin supply stabilizes as a leading indicator of returning liquidity, or whether it keeps shrinking and confirms that capital remains on the sidelines.
Generated by AI for reference only.
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