CryptoQuant data shows USDT market cap has fallen about $4B over 60 days, with roughly $870M removed in the last 11 days. It is one of the sharpest stablecoin liquidity contractions on record.
Matters because: stablecoins are crypto’s main deployable capital, so a shrinking USDT base can make it harder for BTC to sustain rebounds until liquidity stabilizes.
