2 hours ago
According to an analyst, Bitcoin sits successful a liquidity set-up that has shown up earlier large rallies. Prices are not shooting higher yet. At property clip Bitcoin trades astir $104,500, down 0.5% implicit the past day.
Traders watched a diminution of astir 1.8% earlier that pushed the terms adjacent $103,400 and it concisely touched $102,850 during the move.
Stablecoin Signal Points Toward Accumulation
CryptoQuant expert Moreno points to the Stablecoin Supply Ratio, oregon SSR, arsenic the archetypal wide indicator. The SSR compares Bitcoin’s marketplace headdress to the full marketplace headdress of stablecoins. It has dropped backmost into the 13 range.
Based connected humanities readings, that 13 country has lined up with marketplace lows successful mid-2021 and astatine respective moments crossed 2024. Reports amusement that erstwhile SSR fell to akin levels, liquidity softly built up and buying followed aft a play of debased volatility.
Liquidity Pattern Has Appeared Before Every Bitcoin Surge — And It’s Back
“We’re witnessing a liquidity configuration that has lone appeared a fistful of times since 2020, and each lawsuit marked a pivotal infinitesimal for Bitcoin’s trajectory.” – By @MorenoDV_ pic.twitter.com/vWKcCkyn55
— CryptoQuant.com (@cryptoquant_com) November 11, 2025
Binance Reserve Trends Add A Second Layer
The 2nd metric Moreno highlights comes from Binance. On that exchange, stablecoin balances are rising portion Bitcoin reserves are shrinking. In plain terms: much cash-like tokens beryllium connected the speech and less coins are being held there.
That signifier has appeared lone a fistful of times since 2020, according to the information helium referenced. Each time, the question suggested superior waiting connected the sidelines and holders moving coins disconnected exchanges into longer-term storage.
Market Calm Can Hide Big Moves
The existent trading backdrop is cautious. Many investors expected a lift aft quality that the US Congress approved short-term federal funding done January 30, yet crypto did not rally with different hazard assets.
Some superior rotated backmost to stocks. At the aforesaid time, ample holders took profits aft caller highs, and momentum cooled. That premix shows however macro events tin displacement flows without instantly turning into crypto buying.
Risk Still Exists — Structure Could Break
Moreno warns this liquidity portion acts similar a last structural support. If the metrics interruption down decisively, it could awesome a deeper reset earlier immoderate sustained recovery.
In that scenario, buying would apt beryllium delayed and volatility would rise. This is not a guaranteed outcome, but it is simply a wide hazard that traders ticker closely.
Outlook: Limited Downside, Growing Upside
Based connected reports and on-chain signals, Moreno believes the risk-to-reward favors buyers astatine these levels. He points to the built-up stablecoin proviso and falling speech BTC reserves arsenic reasons for that view.
Historical patterns suggest the past 3 months of the twelvemonth often bring gains for Bitcoin, but past behaviour does not committedness aboriginal returns.
For now, the indicators amusement superior parked successful stablecoins and less coins disposable connected large exchanges. That creates a setup wherever caller buying could propulsion the marketplace higher rapidly if sentiment turns.
Yet the other is possible: a interruption beneath these levels would reshape the rhythm and unit galore participants to rethink positions. Markets volition determine which way comes next.
Featured representation from Gemini, illustration from TradingView
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