According to ChainCatcher news and the latest research report from CryptoQuant, the total supply of ERC20 stablecoins has surpassed $160 billion in 2025, reaching an all-time high, which is considered a key indicator for predicting Bitcoin price movement. The study points out that compared to the global M2 Money Supply, the supply of stablecoins has a more significant correlation with Bitcoin price movement. The report analyzes that stablecoins, as the main source of liquidity in the crypto market, can reflect investor fund flows more quickly and directly, and their supply growth often precedes the rise in Bitcoin prices. During the bull run in 2021 and the market recovery in 2024-2025, the growth of stablecoin supply clearly preceded the rise in Bitcoin prices. The CryptoQuant research team states that the current supply of stablecoins is at a historical high, indicating that the underlying purchasing power in the market continues to strengthen, which could become an important driving force for the next round of Bitcoin price movement.
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