The current Bitcoin market condition remains very bearish following a total loss of 2.41% last week. While Bitcoin currently sits at around $68,000, the digital asset remains about 46% off its all-time low ($126,100) recorded in late 2025.
Bull or Bear? Recording Bitcoin’s SSR Liquidity Signals
In a letter posted by QuickTake on the CryptoQuant platform, an anonymous analyst, MorenoDV, explained how the Stablecoin Supply Ratio (SSR) works as a liquidity signal for Bitcoin and why the current level around 9.5–9.6 is important.
SSR measures the market cap of Bitcoin compared to the stablecoin supply. In other words, it shows how much “dry powder” (purchasing power) there is in the market. A high SSR indicates that the Bitcoin market is large compared to stablecoins – the purchasing power is slightly set aside, while a low SSR indicates that the stablecoin supply is stronger than Bitcoin – the purchasing power is available.
According to analyst MorenoDV, SSR is not a direct bullish or bearish indicator; its value depends on the understanding of the market’s path to reach the level of 9.5. When the SSR falls to 9.5 from highs, it usually indicates stablecoin currency strength, which often leads Bitcoin to find support or reverse higher in previous cycles.
On the contrary, if the SSR rises to 9.5 from the lows, it suggests financial obsolescence, historical local peaks and short-term corrections.
Analyst MorenoDV describes the 9.5 level as a currency benchmark due to its ability to act as support or resistance based on market direction. As the SSR navigates this sensitive area, market traders will carefully monitor whether stablecoin inflows are maintained at a sustained level, or if there is an impending exhaustion of liquidity, which would be indicated by a rejection at this equilibrium point.
Bitcoin price overview
As of writing, the price of Bitcoin stands at ~$68,840, representing a 3.97% increase in the last 24 hours. During that time, its daily trading volume decreased by 15.3% and is worth 37.33 billion dollars. According to data from Coincodex, the Fear and Greed index stands at 9, indicating levels of extreme caution among investors.
However, Coincodex analysts and investors will gradually adopt a bullish stance, as their projections show a goal of $73,769 in five days and $77,687 in a month. The three-month target of $72,480, meanwhile, suggests a retracement of some levels following the first move, in line with the classic bullish pattern.
Featured image from XVerse, chart from Tradingview.com
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