1 month ago
15
Key Takeaways
- Stablecoin exchange inflows sit at an 18-month low, down 56% from the mid-2025 rally.
- USDC and USDT supply has been contracting since November 2025, a demand gauge turning negative.
- Three independent methods converge on the same floor: $58,000-$60,000.
- BTC trades at $62,794, bouncing off its 50-month average at $59,878.
Four separate on-chain lenses all describe the same market from different angles, and they agree on the structure while disagreeing only on how deep it goes: this is a liquidity drought, not a conviction collapse.
The Fuel Gauge Is Near Empty
Start with the clearest signal. According to CryptoQuant analyst Zakariya Sharif, mean stablecoin inflows across all exchanges sit at 21,557, down 56.25% and the lowest in 18 months. During the mid-2025 rally, those inflows regularly spiked between 100,000 and 280,000.
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