Bitcoin Reclaims $90,000 as Stablecoin Supply Hits Record High, Signaling Potential Trend Shift
2025.11.28
Bitcoin has reclaimed the $90,000 level as market sentiment shows early signs of recovery.
According to data from Echobit, Bitcoin has gradually rebounded and is now holding firmly above $90,000. Following this rebound, holders of BlackRock’s spot Bitcoin ETF have returned to profit—a potential early indication that sentiment among one of this year’s most influential investor groups may be shifting.
Seasonality Patterns May Be Changing
Historically, November has been one of Bitcoin’s strongest months, with December typically showing more moderate performance. However, both October and November fell short of market expectations this year. This deviation suggests that traditional seasonality patterns may no longer apply, adding uncertainty—and renewed interest—to Bitcoin’s potential performance in December.
Stablecoin Supply Hits All-Time High, Acting as a Leading Indicator
According to a recent report from CryptoQuant, the total supply of ERC20-based stablecoins has surpassed $160 billion in 2025, marking a new all-time high. The report identifies stablecoin supply as one of the most reliable leading indicators for Bitcoin price trends—more correlated than even global M2 money supply.
Stablecoins, as the primary source of liquidity in the crypto market, tend to reflect capital flows more quickly and directly.
Historical data shows that during both the 2021 bull cycle and the 2024–2025 market recovery, stablecoin supply expansion consistently preceded Bitcoin’s major price increases.
With current supply levels at historical highs, the data suggests underlying purchasing power is steadily rising, potentially providing support for the next phase of Bitcoin’s price movement.
Echobit’s View: Liquidity Signals Are Strengthening
From Echobit’s perspective, Bitcoin’s recovery above $90,000 combined with record-high stablecoin supply indicates improving liquidity conditions across the market.
These underlying signals suggest that while short-term volatility is likely to remain, long-term capital is gradually returning, reinforcing the potential momentum for the next market cycle. Echobit will continue to monitor on-chain flows, liquidity trends, and institutional activity to provide users with timely and data-driven market insights.