Now, even though Bitcoin is once again flirting with six-figure territory, the stablecoin metrics are telling a different story. This time, the demand seems more organic and sustainable.
Bitcoin is on the move again. Prices are climbing, and if you’ve been watching the charts, you might feel a bit of déjà vu. After all, BTC is now trading around $109,500, pretty close to the levels we saw during the rally late last year.
But here’s the twist: this time, the fuel behind the rally looks different and possibly, stronger.
So What’s Really Powering This Rally?
According to fresh data from on-chain analytics firm Glassnode, the current rally isn’t just about market hype or whale speculation. It’s backed by something more fundamental: investor purchasing power.
Let’s break it down.
The key metric here is called the Stablecoin Supply Ratio (SSR). It basically compares the total supply of Bitcoin with the supply of USD-backed stablecoins like USDT and USDC, which are widely used as “ready cash” in the crypto world.
Why does this matter? Because stablecoins represent dry powder funds that investors have sitting on the sidelines, ready to deploy. So if there’s a lot of stablecoin supply relative to BTC, that means there’s serious buying power waiting to pounce.
Enter the SSR Oscillator: A Clearer Picture
Rather than just looking at raw SSR numbers, Glassnode zoomed in on a more refined version called the SSR Oscillator. This tool tracks how the 200-day moving average of the SSR moves within Bollinger Bands a fancy way of spotting trends and volatility.
And here’s what they found:
Over the past couple of months, the SSR Oscillator has been hovering around zero. That’s a sign of neutral investor purchasing power—not overly weak, not overheated. Just solid, steady interest in BTC from people who have funds to back it up.
Compare that to the rally beyond $100K late last year, and there’s a noticeable shift. Back then, the oscillator spiked high, meaning Bitcoin’s price was surging while stablecoin supply aka buying power was relatively low. In other words, that rally might have been more momentum than money.
Read Also: Investments in Ethereum ETF continue for 7 consecutive weeks. Is this a bullish signal?
Same Price, Stronger Demand This Time
Now, even though BTC is once again flirting with six-figure territory, the stablecoin metrics are telling a different story. This time, the demand seems more organic and sustainable.
As Glassnode put it:
“Despite similar price levels, this shift suggests that investor purchasing power has improved markedly, reflecting stronger underlying demand conditions.”
That’s the kind of sentence that makes long-term investors lean in.
A Quick Look at the Price
At the time of writing, Bitcoin is trading around $109,500, up over 2% in the past week. It’s been a steady climb — not a flashy moon shot and that’s actually a good thing. Markets built on slow, stable buying pressure tend to last longer than ones pumped by sudden hype.
Final Thought
Price action alone doesn’t always tell the whole story. But when it’s backed by stronger purchasing power, that’s a signal worth paying attention to. In simple terms — this rally has legs, and it might just surprise the skeptics if this trend continues. Do your research before investing
Disclaimer: This article is for information only. Consult a financial advisor before any investment, and do your own research. Because crypto is unregulated and involves a lot of risk.
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