Bitcoin faces $70,000 test as $14.2 billion stablecoin contraction signals weak demand
AI summary
Stablecoin supply has shrunk by $14.2 billion over the past month, the sharpest contraction since June 2022, signaling weaker liquidity and demand. Bitcoin's apparent demand has dropped by 284,000 BTC, nearing levels seen during the March 2025 market turmoil, and the asset now faces a test at $70,000. Traders should watch whether that level holds, since shrinking stablecoin supply limits buying power and recent buyers are already underwater.
