This is alarming; stablecoins have shrunk by $14.9 billion in 30 days, marking the largest drawdown since 2022. USDT alone lost $8.4 billion, second only to the Luna crash in 2022. On-chain data shows that $9.2 billion in USDT was returned to Tether to be exchanged for US dollars in 30 days, nearly four times the amount in the previous month. The total supply of stablecoins dropped from $312.9 billion in May to $289.1 billion, a 7.6% drawdown, the deepest since the last bear market. However, looking at history, the shrinking stablecoin market doesn't necessarily mean Bitcoin will fall further: In 2022, Bitcoin bottomed out nine months earlier than stablecoins; this year, stablecoins peaked in May and have been declining, while Bitcoin bottomed out on June 30th and subsequently rose 43% in the following three months. The next question is whether stablecoins can return to 312.9 billion within two months. Why did 14.9 billion leave? There's a key difference between this time and the one in 2022 Stablecoins: USDT, BTC, AiCoin