The combined supply of the top four stablecoins has stabilized, showing minimal change over the past 30 days, contrasting sharply with the liquidity surge seen during the November-December rally. This stagnation in stablecoin inflows indicates a weakened buying environment as the U.S. inflation report approaches. Bitcoin's recovery from below $90,000 raises bullish possibilities, but the halted stablecoin liquidity raises concerns about potential downside volatility if the upcoming inflation data exceeds expectations. The report is anticipated to show a 0.3% month-on-month increase in living costs for December, with heightened forecasts suggesting less aggressive monetary policy from the Federal Reserve. The current stablecoin supply is approximately $189 billion, revealing a 30-day net change of only 0.37%. This trend contrasts with the $27.3 billion inflows recorded during the bull run, highlighting a significant decrease in speculative demand and liquidity-driven momentum in the market.

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