CryptoQuant reports that Bitcoin’s sell pressure is easing after Tether’s circulating supply dropped by approximately $4 billion over 60 days, reaching around $183 billion, its lowest level since October 2025. Historical analysis from the on-chain analytics firm suggests that the deepest USDT supply contractions tend to coincide with seller exhaustion rather than the intensification of selling pressure. Tether reported Q1 2026 profit of $1.04 billion and maintains a reserves buffer of $8.23 billion above its outstanding token obligations. The firm warns that while seller exhaustion removes downward pressure, meaningful Bitcoin recovery will require fresh capital inflows through stablecoin minting, spot Bitcoin ETF inflows, or direct fiat-to-crypto purchases.
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