The AlmanacMoney & depth
Bitcoin's market cap is 3.8× the entire stablecoin supply. When this is low the buying powder is loaded; when it is high, rallies are running on fumes.
Bitcoin's market cap is 3.8× the entire stablecoin supply. When this is low the buying powder is loaded; when it is high, rallies are running on fumes.
Answer engine brief
Stablecoin Supply Ratio reads where capital sits and how much depth is available. The live value is 3.8 ×, with the current interpretation: dry powder loaded.
How to read it
Bathymark treats this as one instrument on a larger wall. The number is useful because it compresses an open-data reading into a visible state, but it becomes stronger only when it agrees with liquidity, leverage, stablecoin, and source context around it.
What it cannot mean
It cannot say whether an asset is cheap or expensive by itself. Depth is context, not a trade.
Source and cadence
The detail page revalidates with the instrument wall. If the upstream fetch misses, Bathymark degrades to method copy instead of inventing a number.
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