Analysis: Bitcoin stablecoin purchase demand indicator soared to 3.74 at one point, approaching the November 2024 high

According to BlockBeats, on September 3rd, CryptoQuant analyst Zizcrypto reported that the 90 day reading of the stablecoin supply ratio oscillator (SSR oscillator) had quickly risen to the "strong stablecoin purchase demand" region and hit 3.74 on August 21st, approaching the peak of around 4.00 in November 2024. Afterwards, the indicator began to decline, and BTC is currently trading around $77000. The rapid rebound of the stablecoin demand indicator in this round coincides with the strong liquidity pulse that has appeared in the market before. But what is currently more worth paying attention to is not the short-term surge itself, but whether this demand signal can be sustained. If the 90 day SSR oscillation indicator continues to fall and falls below the "high" zone again, the confirmation strength of this indicator for the continued increase in demand for stablecoin purchases will weaken. At present, this round of changes is more like a liquidity pulse rather than a sustained demand expansion cycle that has already formed. The demand signal on the stablecoin side has indeed strengthened significantly recently, but the 90 day oscillation index has started to cool down from its peak of 3.74. If it cannot be sustained in the 'high' region in the future, it remains to be seen whether this round of liquidity improvement can evolve into more sustained demand growth. [Original link]