Crypto Markets Today: Bitcoin Holds Steady Above $23K, White House Urges Congress to ‘Step Up’ Crypto Regulation

The SSR measures the ratio between the supplies of bitcoin and stablecoins. As stablecoins represent buying power, a reduction in the SSR implies that investors are sending stablecoins to exchanges, likely for the purpose of buying bitcoin. Since Jan. 11, the SSR has increased 32%. So while BTC’s price has risen, investors do not appear to be sending stablecoins to exchanges en masse to add to long positions.

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• Source: https://www.coindesk.com/markets/2023/01/27/crypto-markets-today-bitcoin-holds-steady-above-23k-white-house-urges-congress-to-step-up-crypto-regulation/?utm_medium=referral&utm_source=rss&utm_campaign=headlines