Morning Edition · Thursday, November 12, 2026Published at 12:46 AM EST · New York
CryptoSlate calls the drop the sharpest since June 2022, and spot bitcoin exchange-traded funds have kept recording outflows while large holders added coins.

Stablecoin supply has contracted by $14.2 billion over the past month, which CryptoSlate describes as the sharpest decline since June 2022. DeFiLlama puts total stablecoin circulation at $290.69 billion, with Tether's USDT at $175.63 billio…
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Part of a tracked trend
Dollar Liquidity Sets Crypto's Direction
Bank reserve levels and Treasury cash management increasingly determine crypto price direction more than crypto-native flows, tying digital assets to the same funding cycle as leveraged equities.
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