Global uncertainty is driving investors towards safe-haven assets, draining liquidity from the crypto market. Analysts at Matrixport view the stagnation in stablecoin supply as a "notable obstacle" for Bitcoin and the entire digital ecosystem.
šTodayās #Matrixport Daily Chart ā February 24, 2026 ā¬ļø
ā Matrixport Official (@Matrixport_EN) February 24, 2026
Stablecoin Growth Stalls: Another Liquidity Warning Sign for Bitcoin?#Matrixport #Bitcoin #Stablecoins #Crypto #Liquidity #OnChainData #MarketStructure #Regulation #DigitalDollar pic.twitter.com/YOVjwMZQmw
āStablecoins are the primary liquidity channel in digital assets, and stagnation often indicates that capital is flowing back into fiat rather than remaining in the crypto market,ā the experts noted.
Since the beginning of 2026, the supply of these digital assets has decreased by $5.6 billion, from $159 billion to $153.4 billion. Reserves of stablecoins on the leading crypto exchange Binance have also dropped by 19% since November 2025.
Source: CryptoQuant.Experts warn that if capital outflows continue, Bitcoin will face ongoing liquidity shortages.
Moreover, even the long-awaited passage of the market structure bill (Clarity Act) is unlikely to immediately revive the sectorāreal demand and capital inflows are needed, not just regulatory easing, they concluded.
Outlook
CryptoQuant contributor Darkfost believes that market liquidity conditions are "unlikely to improve anytime soon."
šļø Stablecoin reserves fall back to 2024 levels
ā Darkfost (@Darkfost_Coc) February 23, 2026
"These reserves, which typically adjust based on investor demand, have dropped from $50.9B to $41.4B, representing a decline of 18.6%. As stablecoins continue to flow out, Binanceās reserves have now returned to levels lastā¦ pic.twitter.com/ycN3TZIt2d
He referenced comments from Fed member Christopher Waller, who stated that strong labor market data might prompt the regulator to maintain rates within the current range.
āSuch monetary policy typically restrains capital inflows into risk assets,ā the expert noted.
Glassnode specialists expect liquidity to recover no sooner than in six months.
šUPDATE:
ā glassnode (@glassnode) February 24, 2026
The Realized Profit/Loss Ratio (90D-SMA) has now fallen below 1, confirming a full transition into an excess loss-realization regime.
Historically, breaks below 1 have persisted for 6+ months before reclaiming it, a recovery that typically signals a constructiveā¦ https://t.co/nzdIG5LkEX pic.twitter.com/uYvZ6i99fA
They pointed out that the realized profit/loss ratio has dropped below 1 for the first time since 2023, confirming a full transition into a regime of excessive loss realization.
Historically, periods at current levels have lasted over six months. Recovery would indicate fresh capital inflows into the sector.
As of this writing, Bitcoin is trading around $62,900, down 5% in the last 24 hours.
Hourly BTC/USDT chart from Binance. Source: TradingView.Recall that on February 24, Bitrue analyst Andri Fauzan Adziim predicted a drop in the first cryptocurrency to $47,000 if it breaks below $60,000.