Warning signs of Bitcoin rebound! The market value of USDT has shrunk by nearly $1 billion in a single day, and the purchasing power of the market is being tested! The latest on chain data from CryptoQuant has undergone a highly noteworthy change. The daily market value of USDT decreased by nearly 1 billion US dollars! More importantly, this is not just a one-day abnormal fluctuation. From the second picture, it can be seen that: The market value change of USDT in the past 60 days has previously fallen into a significant negative value. Although there has been a recent rebound, the overall momentum of capital expansion remains weak. Meanwhile, the price of Bitcoin is attempting to continue its rebound. This represents a cautionary phenomenon: prices are recovering, but the recovery of stablecoin supply seems to have not fully caught up yet. Why do I value this data so much? Because stablecoins are an important source of liquidity in the cryptocurrency market. When the supply of USDT continues to expand, it usually means that there is more potential trading liquidity in the market. But if the supply continues to shrink, we must consider: How long can Bitcoin's rebound last in the absence of new liquidity support? Looking back at the past few rounds of market trends, the expansion of stablecoin supply often coincides with the rise of the cryptocurrency market. But there is a very important concept here: The decline in USDT market value does not necessarily mean that the same amount of funds are withdrawing from Bitcoin. Funds may also be transferred to USDC, fiat currencies, or other trading channels. So we cannot simply judge the end of a bull market based on changes in USDT. What I am truly concerned about are the following three signals: ① Can the 60 day market value change of USDT continue to rebound? ② Is BTC spot buying sufficient to withstand potential selling pressure? ③ Can Bitcoin continue to break through significant pressure without significant improvement in liquidity? If the supply of stablecoins resumes expansion and BTC prices break through, this will be a more convincing bullish signal. On the other hand, if USDT continues to shrink and Bitcoin prices begin to stagnate So the continuity of this rebound is worth reassessing. A truly healthy upward trend is not just about rising prices, but also about sustained funding support behind it. The most important issue now is: Is Bitcoin brewing the next wave of rise, or is insufficient liquidity about to limit this rebound? Responsible for analyzing with position.