Bitcoin Faces Pressure as USDT Supply Contracts Sharply

The market cap of the largest stablecoin has fallen by $6.6 billion over the past 60 days, the steepest decline since 2022. CryptoQuant analysts say the pace of outflows is more than twice as fast as after the FTX collapse.

All of the firm’s cyclical indicators have flipped downward at once. This suggests the market is either finding a local bottom or heading toward a deeper correction.

Redemptions of USDT are draining dollars from the crypto ecosystem. Without fresh liquidity, the rallies of the current cycle lose their fuel, and bitcoin has already dropped more than 15 % from its September high of $87,360.

At 10 a.m. Moscow time on November 11, 2026, bitcoin was trading near $73,600, below its 365-day moving average. The next key support lies at the 200-day average of $73,200. Analyst Alex Thorn of Galaxy still sees a path back above the 50-week average before December, but a failure to reclaim it would weaken the bullish case.

Based on information from cryptonews.net