CoinMeta data: According to 10xResearch, the price of Bitcoin has fallen below $80,000, but price volatility is just part of the story. The market capitalization of USDT is $182.6 billion, a decrease of 0.5% from a week ago, and the trading volume is $58.8 billion, which is 5% lower than the average level. The market capitalization of USDC has dropped by 1.2% to $71.5 billion, and the trading volume has fallen to $11.7 billion, which is 19% lower than the average. Stablecoin issuance indicators are in the second percentile, indicating very negative signals. Last week, the supply of stablecoins decreased by $1.9 billion, and the total net redemptions over the past 30 days reached $4.8 billion, suggesting that market liquidity is flowing out rather than in.