$BTC short-term correction is looking imminent.

The Stablecoin Ratio Channel is flashing its first signs of short-term risk for Bitcoin.

Historically when this ratio is low, it indicates an excess of stablecoins which is a bullish signal for BTC accumulation.

When this ratio is high, it indicates growing pressure for BTC to be sold back into stablecoins.

But here's the thing.

Long-term Stablecoin Ratio Channel is still halfway through its historic range which shows that cycle top hasn't yet happened.