[CryptoQuant Analyst: Stablecoin Demand Cools Down, BTC Price Around $77,000] CryptoQuant analyst Zizcrypto's monitoring shows that the Stablecoin Supply Ratio Oscillator (90D) surged to a peak of 3.74 on August 21, approaching the historical high of approximately 4.00 in November 2024. The indicator subsequently cooled down, with BTC currently trading at around $77,000. The analyst pointed out that if the 90D reading continues to decline and falls out of the high zone, this rally is likely driven by short-term liquidity.