Bitcoin’s Dry Powder Myth Busted: Outflows – Not Buyers – Driving Low SSR

Bitcoin’s Stablecoin Supply Ratio (SSR) has dropped to 9.36, a level historically associated with significant buying power waiting on the sidelines, but on-chain data shows this metric is flashing a false signal. According to analyst Axel Adler Jr., the decline is being driven by capital leaving the ecosystem rather than stablecoin accumulation, which fundamentally alters how investors interpret this classic bu…