TL;DR: Stablecoins are coming back to exchanges.
Dry powder reload.

$USDT and $USDC balances on major exchanges are ticking up again.
That’s fresh liquidity entering the system.

Stablecoins don’t move for fun.
They move to be deployed.

Liquidity always moves before price.
$ETH

ETHUSDT

Perp.

2,942.38

-0.26%