Crypto demand is cooling hard right now—U.S. spot $BTC Bitcoin ETFs saw massive outflows like $818M on Jan 29 alone, and stablecoin liquidity (USDT market cap growth) has crashed from $15.9B average in late Oct to under $1B recently. It's a tough phase with stalled inflows and real pressure on holders, but these low-liquidity dips have set up solid opportunities before. Hang tight, no strong bullish flip yet—patience pays in this market.