Crypto markets are experiencing a liquidity crunch as the supply growth of Tether (USDT) stablecoin has dropped significantly in June. The month-on-month supply grew less than 1.5%, a stark contrast to the over 5% growth seen in April and May. This indicates less money is flowing into the crypto markets as Bitcoin and Ethereum face downward pressures. Bitcoin markets have also seen substantial daily outflows, with more than $540 million leaving the market last week. The ongoing downward in global growth forecasts and rising recession risks could continue to challenge Bitcoin's price.