Analyst: Bitcoin Stablecoin Buying Demand Indicator Nears November 2024 Peak

CryptoQuant analyst Zizcrypto reported that the 90-day Stablecoin Supply Ratio (SSR) Oscillator reached 3.74 on August 21, signaling strong buying demand and nearing the peak of 4 observed in November 2024. While the indicator has since cooled, Bitcoin continues to trade near $77,000. The analyst noted that this surge appears to be a liquidity pulse rather than a sustained expansion cycle, and the sustainability of this demand remains uncertain if the indicator continues to decline from its recent highs.