[Analysis: Stablecoin Market Cap Declines for Over a Month, with $6.9 Billion Outflow in the Past Month] CryptoQuant analyst CW8900 points out that the total market capitalization of stablecoins has been declining for over a month. On October 1st, the total market capitalization of stablecoins was $270.3 billion, but due to continuous net outflows, it has now fallen to $263.4 billion. In the past month, a total of $6.9 billion in stablecoins has flowed out of the market. CW8900 states that bullish trends typically occur when funds flow in, but with continuous outflows over the past month, Bitcoin is also in a bearish phase. For a rebound to occur, stablecoins must flow back into the market; once stablecoin funds turn to net inflows, the market may rebound.