Stablecoin Supply Ratio Drop Highlights Possible Bitcoin Bottom After Market Correction

On 19 January 2026 at 19:44, Bitcoin's sharp correction coincided with one of the steepest declines in the Stablecoin Supply Ratio in the current cycle, suggesting a potential undervaluation. A large pool of stablecoin liquidity now stands against a reduced Bitcoin market cap, a setup that has previously aligned with emerging market bottoms. For this signal to be confirmed, the ratio would need to rise again while stablecoin market caps stay steady or expand.