Stablecoin flows reveal liquidity movements.
Nansen data shows that stablecoin flows into exchanges remain robust, with a balance between inflows and outflows, keeping the total balance stable at around $80 billion.
This means that liquidity hasn't left the market yet; instead, it's being circulated within the platforms. This indicates that investors are still in a holding pattern or a state of uncertainty, either waiting to buy the dip or anticipating new catalysts.
I also expect a decrease in investor risk appetite as a result of the sharp decline that occurred during October.