Quick Take
The Stablecoin Supply Ratio (SSR), a critical parameter gauging the buying power of stablecoins against Bitcoin, has seen significant movement lately. This ratio, calculated as Bitcoin Market Cap divided by Stablecoin Market Cap, offers key insights into the supply-demand dynamics between Bitcoin and USD. The lower the SSR, the greater the potential purchasing power of current stablecoins for Bitcoin.
The SSR surpassed its upper bound in late October, indicating a potential oversupply of Bitcoin relative to stablecoins. Interestingly, recent data indicates a resurgent stablecoin influx into Bitcoin, suggesting a possible market shift.
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