Liquidity Bitcoin Halving: Is Crypto’s Magic Cycle Finally Broken?

After months of steady expansion, the crypto market liquidity is starting to dry up. The strongest signal comes from the decline in stablecoin supply, often referred to as the “lifeblood” of the crypto ecosystem. This raises a crucial question: If liquidity is shrinking and Bitcoin Halving has lost its magic, what will drive the next crypto cycle? Liquidity Is Drying Up: The Market’s Blood Flow Is Slowing According to DefiLlama, the total global stablecoin market cap dropped from $309 billion to $305 billion in November 2025, marking the first contraction after two years of continuous growth. This trend suggests that capital inflows are cooling off, signaling weaker liquidity ahead source: https://beincrypto.com/liquidity-bitcoin-halving-is-cryptos-magic-cycle-finally-broken/