This year, the Stablecoin Supply Ratio (SSR) has shown significant trends, offering deep insights into Bitcoin’s market behavior. The SSR, calculated by dividing Bitcoin’s market cap by the market cap of major stablecoins, is a barometer for the relative financial strength and purchasing power of stablecoins against Bitcoin.
This year, a marked increase in SSR has been observed, with the ratio climbing from 2.36 on Jan. 1 to 6.74 by Dec. 14. This rise indicates a growing market cap of Bitcoin relative to stablecoins, hinting at shifts in market liquidity and investor preference.
Graph showing the Stablecoin Supply Ratio (SSR) in 2023 (Source: Glassnode)
To fully understand these trends, it’s crucial to examine the SSR in relation to Bollinger Bands. Bollinger Bands are a set of trend lines plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a particular asset or metric. They help identify the degree of volatility in the market. W
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