The stable coin supply is declining. A stablecoin is a coin that is used to purchase other cryptocurrencies such as Bitcoin or Ethereum, and is a coin with a constant value.
When the supply of these stable coins increases, the outflow from cryptocurrency to stable coins is large, and when the supply is small, the purchase of cryptocurrency increases.
If you look at the chart above, you can see that the Bitcoin price generally rises after the orange bottoms out with the stable coin ratio.
That low continues to move lower and is now nearing its lowest point and is now heading down again.
Could it be that the bitcoin bull market isn't over yet?
