Glassnode Warns BTC Has Less Fuel for a Rally After a $14.2B Stablecoin Exodus

Three Things to Know Stablecoin supply just posted its sharpest monthly contraction since the Terra collapse, Glassnode said. Bitcoin's daily momentum gauge sits deep in oversold territory, yet sellers still control the trend. Whale buy orders cluster just above the nearest chart support near $63K, setting up a key test. Glassnode warned this week that the crypto market's cash pile is shrinking fast. Stablecoins left the system at a pace not seen since 2022, and bitcoin slid under the price most recent buyers paid. That matters because stablecoins fund most crypto purchases. With ETF money also leaving, bitcoin has fewer buyers to lean on. Traders now want to know if large holders' bids can hold the line before forced selling takes over.

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