Bitcoin Indicators Flash Mixed Signals as Market Eyes 2024 Halving

The stablecoin supply ratio (SSRO) has surged to a new all-time high, suggesting appetite for Bitcoin accumulation but also that stablecoin purchasing power is relatively weak.

Historically, similar SSRO levels have marked both local tops and the start of bigger bull cycles, so a retracement is possible before the 2024 halving.

The reserve risk indicator shows confidence in Bitcoin's future price remains very high despite already being at 17-month highs.

Long-term holders may be positioned for major gains as they control an all-time high percentage of supply.

Potential multibillion-dollar inflows from a Bitcoin ETF could send prices to six figures post-halving.