Stablecoin purchasing power is back in what has been a net positive for Bitcoin price performance.
Bitcoin (BTC) is benefiting from a surge in stablecoin “buying power” as their supply trends higher.
Data from on-chain analytics firm Glassnode shows an ongoing drop in the stablecoin supply ratio (SSR) oscillator.
Bitcoin headed to two-year highs this month after originally adding upside in October 2023 — and stablecoin data says that this is no coincidence.
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Source: https://cointelegraph.com/news/bitcoin-price-stablecoin-boost-supply-jumps-3-5-in-one-month