Depending on this metric, Bitcoin may be due for a correction!

With Bitcoin and most of the market’s altcoins rallying in the backdrop, the Stablecoin Ratio seems to be highlighting the rise of sell-side pressure. The value of the Stablecoin Ratio depends largely on Bitcoin and stablecoin reserves and since both values have dropped significantly, there is a whole lot of sell-side pressure.

It should be noted here that this ratio is a useful indicator since it takes into account Tether and the market’s top stablecoins’ market cap. Simply put, depending on the Stablecoin Ratio, Bitcoin may just be due for a correction soon.

Timeline of Bitcoin, Tether