Stablecoin Supply Ratio Oscillator indicaté high demands coming back

Stablecoin-Supply-Ratio-Oscillator-indicaté-high-demands-coming-back

The Stablecoin Supply Ratio Oscillator (SSRO) is based on the ratio of Bitcoin's market cap to the market cap of stablecoins, including #USDT, #USDC, #BUSD, #TUSD, #USDP, #GUSD, #DAI and #SAI.

This oscillator allows us to estimate the demand for purchasing or betting by consuming these stablecoins.

Since Bitcoin bottomed in November 2022, the 90-day and 200-day oscillators have seen lows similar to that bottom during the 3 months of Q3 2024.

However, October has once again been an 'Uptober' as Bitcoin has recovered to 70K and may retest the ATH high set in Q1 earlier this year.

SSRO indicates high demands on the average quarterly data set (90d), breaking above the positive 2-points. If demand continues to sustain and the announcements and news in early November include some favorable macro and election data, a move to and break above the positive 3-points is possible, which has happened three times in the bull cycle: in January 2023, October 2023, and February 2024.