Signals of liquidity recovery may emerge earlier than price movements

Since October last year, Bitcoin has been in a consolidation range, one of the main reasons being that the market's "water tap" is tight—insufficient new funds and weak liquidity.
Meanwhile, the leading stablecoin Tether's market cap has long hovered around approximately $183 billion, with limited growth, indicating that off-market funds have not entered in large scale, and the market naturally lacks the momentum for sustained upward movement, with market sentiment remaining cautious.
But recent developments have begun to change.
Tether's new circulation has increased by about $3 billion, and the total market cap of stablecoins has risen again, indicating that off-market funds are gradually flowing back, and the market's "ammunition" is starting to be replenished.
From the overall signals in the capital side, this is often a phase where funds move first, rather than prices. Although it is still in the early stage of improvement, the marginal changes are already worth noting.
The market never turns at the height of enthusiasm, but quietly shifts during unnoticed changes in capital flow.
If this liquidity restoration can continue, it will gradually provide stronger support for prices in the future. Opportunities are often hidden in the stage where "pricing has not yet occurred."