**Crypto Market Analysis: Capital Rotation and Liquidity Trends**

The recent increase in Open Interest (OI) and the reduction in the Market Cap of Stablecoins indicate a significant capital rotation within the cryptocurrency market. This shift suggests that no new liquidity is entering the market at present.

From May to July, OI surged by approximately 54%, while the 60-day MarketCap Change of stablecoins dropped by around 80%. However, from July to today, OI has decreased by 25%, and stablecoins have seen an impressive increase of 4.7 billion.

This rise in stablecoins demonstrates a concerted effort by bullish investors to establish a robust support level amid persistent, albeit weakening, selling pressure. The capital reshuffle among traders explains the observed transformations in the cryptocurrency market, effectively pushing out less resolute investors.