Tthe Exchange Stablecoins Ratio (USD) has climbed to about 5.3 as Bitcoin pushes toward $104K, reflecting that BTC reserves on exchanges now significantly outpace stablecoin balances.
This surge above the 5.0 threshold echoes the late-January peak near 6.1, which preceded a swift correction—implying traders may be gearing up to rotate BTC back into cash.
This metric highlight mounting distribution risk. Traders should be careful for now.
Written by EgyHash
