Stablecoins may provide short term relief by creating a demand for USTs when otherwise demand is declining. By creating demand stablecoins help hold interest rates down- but it is only a short term management of a long term problem. If the price of 10year USTs goes much over 5% the spiral begins and could be quite rapid.

US default in some form or other is now almost inevitable- its just a question of what replaces the USD based trade payments and financial systems- and China is already gradually introducing its alternatives.

Stablecoins might be used to some extent (but being tied to a USD that is in obvious decline doesn't make them overly attractive) so with China dominating global trade its more likely the Chinese will dominate in trade payments too. CIPS and mBridge for trade payments are already operational.

Bitcoin may be a marginal safe haven but unlikely to be more than that as nearly all governments are strongly opposed to any competition with their fiat money in MoE.

The decline and fall of western civilisation is not an easy thing to accept, for those of us attached to it, and its extraordinary privileges, but it does appear increasingly likely.