Stablecoin data suggests the crypto market is experiencing a bull cycle correction rather than entering a bear market. The stablecoin market cap has reached a new all-time high, indicating ongoing liquidity inflow. Historically, declining stablecoin market caps have signaled bear markets, but current trends show positive growth over the last 60 days. Additionally, stablecoin inflows to exchanges have increased, reflecting investor confidence and preparation for potential buying. While stablecoin growth supports a bullish outlook, economic and policy uncertainties may influence market dynamics.