Don't just focus on candlestick charts lately; watch when stablecoins stop falling. According to Glassnode, stablecoins have lost $14.2 billion in the past 30 days, the largest drop since the 2022 bear market. The total supply is now less than $280 billion, returning to levels seen in September 2025. CryptoQuant reports a $6.6 billion loss in USDT over 60 days, compared to $3.2 billion for FTX in the same period. Glassnode's original statement was that renewed supply growth is the first signal of new money entering the market. In June 2022, a nearly $30 billion loss occurred in the same 30-day period.