{"id":275273,"date":"2022-11-15T18:32:54","date_gmt":"2022-11-15T18:32:54","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=275273"},"modified":"2022-11-15T18:32:54","modified_gmt":"2022-11-15T18:32:54","slug":"research-bitcoin-buy-pressure-mounts-as-stablecoin-exchange-supply-moves-higher","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/research-bitcoin-buy-pressure-mounts-as-stablecoin-exchange-supply-moves-higher\/","title":{"rendered":"Research: Bitcoin buy pressure mounts as stablecoin exchange supply moves higher"},"content":{"rendered":"<p>Stablecoins are cryptocurrencies that peg their value to reference assets, including fiat currencies, commodities, or other cryptocurrencies.<\/p>\n<p>They form an integral part of the crypto ecosystem by offering price stability in an otherwise volatile market. Cycling into and out of stablecoins, users provide liquidity and exit positions.<\/p>\n<p>This cycling relationship between Bitcoin and stablecoins can provide insight into market sentiment and indicate periods of buying and selling pressure.<\/p>\n<p>Data from Glassnode and analyzed by CryptoSlate shows a perfect storm of potential buying pressure building. However, macro uncertainty continues to weigh heavily.<\/p>\n<h2>Bitcoin: Stablecoin Supply Ratio<\/h2>\n<p>The Stablecoin Supply Ratio (SSR) is calculated by dividing the Bitcoin market cap by the market cap of all stablecoins. By comparing the market caps of Bitcoin and stablecoins, the SSR can be considered a measure of strength between the two.<\/p>\n<p>A high SSR indicates low potential buying pressure and is considered bearish. In contrast, a low SSR means high potential buying pressure making this situation bullish.<\/p>\n<p>The chart below shows the SSR on a macro downtrend since the start of 2018, moving significantly lower from July 2021 onwards and sinking further into 2022.<\/p>\n<p>A current reading of 2.28 shows for every $1 in stablecoins, there are $2.28 of Bitcoin &#8211; a situation of high potential buying pressure for Bitcoin.<\/p>\n<figure id=\"attachment_275274\" aria-describedby=\"caption-attachment-275274\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-275274 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-8-1.png\" alt=\"Bitcoin Stablecoin Supply Ratio\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-8-1.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-8-1-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-8-1-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-8-1-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-8-1-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-275274\" class=\"wp-caption-text\">Source: Glassnode.com<\/figcaption><\/figure>\n<h2>Stablecoin: Balance on Exchanges<\/h2>\n<p>Stablecoins: Balance on Exchanges (SBoE) looks at the total number of stablecoins held on exchanges. Rising SBoE is considered bullish, indicating a continual build-up of sidelined liquidity ready to pounce.<\/p>\n<p>SBoE began trending higher from January this year to peak at approximately $46 billion at present.<\/p>\n<p>Given macro uncertainty, it is likely that sidelined liquidity is waiting for a bottom in legacy markets before cycling into Bitcoin and other cryptocurrencies.<\/p>\n<figure id=\"attachment_275278\" aria-describedby=\"caption-attachment-275278\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-275278 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-9-1.png\" alt=\"Stablecoin Balances on Exchanges\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-9-1.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-9-1-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-9-1-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-9-1-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/image-9-1-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-275278\" class=\"wp-caption-text\">Source: Glassnode.com<\/figcaption><\/figure>\n<h2>Stablecoin: Exchange Net Flow Volume<\/h2>\n<p>The Stablecoin: Exchange Net Flow Volume shows the daily net movement of stablecoins into and out of exchanges for the top four stablecoins. Those are USDT, USDC, BUSD, and DAI, but the data only includes movements via the Ethereum blockchain.<\/p>\n<p>Positive net flow (green) refers to inflows of stablecoins into exchanges, increasing the supply held. Negative net flow (red) is when exchanges experience overall outflows.<\/p>\n<p>The chart below shows current inflows come in at over $1 billion, marking the seventh-highest inflows to date &#8211; providing further confirmation of traders readying to pounce once favorable market conditions present.<\/p>\n<figure id=\"attachment_275279\" aria-describedby=\"caption-attachment-275279\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-275279 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/glassnode-studio_stablecoins-exchange-net-flow-volume.png\" alt=\"Stablecoin Exchange Net Flow Volume\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/glassnode-studio_stablecoins-exchange-net-flow-volume.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/glassnode-studio_stablecoins-exchange-net-flow-volume-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/glassnode-studio_stablecoins-exchange-net-flow-volume-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/glassnode-studio_stablecoins-exchange-net-flow-volume-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/glassnode-studio_stablecoins-exchange-net-flow-volume-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-275279\" class=\"wp-caption-text\">Source: Glassnode.com<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoins are cryptocurrencies that peg their value to reference assets, including fiat currencies, commodities, or other cryptocurrencies. They form an integral part of the crypto ecosystem by offering price stability in an otherwise volatile market. Cycling into and out of stablecoins, users provide liquidity and exit positions. This cycling relationship between Bitcoin and stablecoins can [&hellip;]<\/p>\n","protected":false},"author":460,"featured_media":275470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77921],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Research: Bitcoin buy pressure mounts as stablecoin exchange supply moves higher<\/title>\n<meta name=\"description\" content=\"On-chain data shows the perfect storm brewing as stablecoin exchange supply swells in preparation to pounce on Bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/research-bitcoin-buy-pressure-mounts-as-stablecoin-exchange-supply-moves-higher\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Research: Bitcoin buy pressure mounts as stablecoin exchange supply moves higher\" \/>\n<meta property=\"og:description\" content=\"On-chain data shows the perfect storm brewing as stablecoin exchange supply swells in preparation to pounce on Bitcoin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/research-bitcoin-buy-pressure-mounts-as-stablecoin-exchange-supply-moves-higher\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-15T18:32:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/11\/bitcoin-stablecoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samuel Wan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samuel Wan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/research-bitcoin-buy-pressure-mounts-as-stablecoin-exchange-supply-moves-higher\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/research-bitcoin-buy-pressure-mounts-as-stablecoin-exchange-supply-moves-higher\/\"},\"author\":[{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/samuel-wan\/#person\",\"name\":\"Samuel Wan\",\"url\":\"https:\/\/cryptoslate.com\/author\/samuel-wan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/samuel-wan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/samuel-wan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/samuel-wan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/samuel-wan-author-300x300.jpg\",\"caption\":\"Samuel Wan\"},\"jobTitle\":\"Analyst\",\"description\":\"Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.\",\"worksFor\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"sameAs\":[\"https:\/\/x.com\/WanSamuel\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/james-van-straten\/#person\",\"name\":\"James Van Straten\",\"url\":\"https:\/\/cryptoslate.com\/author\/james-van-straten\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/james-van-straten\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/james-van-straten\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/07\/cryptoslate-james-van-straten-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/07\/cryptoslate-james-van-straten-300x300.jpg\",\"caption\":\"James Van Straten\"},\"jobTitle\":\"Former Lead Analyst\",\"description\":\"James fervently appreciates data, technology, and trend-spotting. 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