Stablecoin Supply Ratio (SSR) is defined as a ratio of the Market Cap of BTC divided by the Market Cap of all Stablecoins.
Stablecoins play an important role in the cryptocurrency market as a fiat currency like USD in the regulated market. This is because fiat currencies like USD as a supplier of liquidity have a lot of regulation issues. Thus, more supply in stablecoin markets may indicate potential buying pressure for major cryptocurrencies like BTC. On the other hand, less supply in stablecoin markets may indicate the slowdown in buying pressure, which may result in potential bearish moments.
In SSR words, if lower the value is, meaning potential bullish sentiment, and if higher the value is, meaning potential bearish or sideways sentiment.