SSR = BTC market cap ÷ total stablecoin market cap. Lower = more dry powder relative to BTC.
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Unknown
BTC Market Cap
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Stablecoin Supply
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30d SSR Change
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SSR Regime Reference
< 4
Extreme Dry Powder — Very large stablecoin supply relative to BTC — historically associated with high stablecoin-to-BTC deployment capacity.
4–7
High Dry Powder — Above-average stablecoin supply relative to BTC — elevated stablecoin-to-BTC market cap ratio.
7–11
Balanced — Stablecoin supply in line with historical norms — no clear directional signal.
11–16
Limited Dry Powder — Stablecoin supply shrinking relative to BTC — stablecoin-to-BTC market cap ratio declining.
> 16
Compressed Dry Powder — Very low stablecoin supply relative to BTC — historically associated with risk-off positioning.
SSR is a market-structure indicator, not a trading signal. Regime thresholds are derived from historical BTC/stablecoin market cap data. This is not financial advice.
The Stablecoin Supply Ratio (SSR) measures how much Bitcoin would cost to buy using the current total stablecoin supply. SSR = BTC market cap ÷ stablecoin market cap.
A low SSR means stablecoins (USDT, USDC, DAI, etc.) are large relative to BTC's market cap — a high stablecoin-to-BTC ratio by market cap. Historically, low SSR periods have coincided with elevated stablecoin-to-BTC deployment capacity.
A high SSR means Bitcoin's market cap dominates relative to available stablecoin supply — suggesting limited sideline capital waiting to enter. This does not predict price direction; it is one structural context metric among many.
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