Stablecoins are dumping -0.42%: crypto loses liquidity at fear 22

Stablecoins are flashing trouble. Supply fell -0.42% over the day to $308.4B - meaning real money is leaving crypto while the market is still breathing. Panic is deep (F&G Index fell to 22, "Extreme Fear"), and smart money is already walking out.

The paradox: majors are rising while liquidity drains. BTC added +1.301% to $63.5K, ETH jumped +2.59% to $1821. It looks healthy, but this is price growth on a shrinking liquidity base - a classic setup before a trap. Volumes are solid: BTC printed $1.12B, ETH $452M.

Funding and dominance: cracks appear

BTC dominance holds 56.07%, but that is a curtain. Funding remains positive: BTC at 0.0056, ETH at 0.0046. Shorts still believe. But SOL already broke: funding fell to -0.0019 - alts lose faith first.

Degen index and macro signal

The crypto degen index is frozen at 69 - neutral, but with stablecoin outflow this is a dangerous calm before the storm. Total market cap rose +0.20% to $2.24T, but that is price growth, not fundamental growth.

Verdict: money is leaving, prices are rising, funding is diverging. This is not healthy growth - this is position exit before another move down. Degens are still sleeping, but stablecoins are already sending SOS.