CryptoQuant analyst Darkfost said Binance and Bybit have recorded a steady decline in stablecoin reserves, with combined outflows of more than $2.3 billion over the past 30 days. Binance’s stablecoin reserves fell by about $1.55 billion during the period, while Bybit’s dropped by roughly $786 million. Darkfost said the figures point to a shortage of fresh liquidity entering the crypto market.
He added that Bitcoin has been trading around the key $60,000 level for about 165 days. Although BTC briefly moved above $80,000 in May, that upside did not hold. In his view, both Bitcoin and the broader crypto market are seeing weak new demand. Darkfost also said exchange stablecoin reserves have been declining since the start of the year, with outflows remaining dominant, suggesting investors are cutting exchange allocations and that some capital may have left the market entirely. He said tighter liquidity and cautious sentiment remain major obstacles to a breakout from Bitcoin’s current range.
According to BlockBeats, CryptoQuant analyst Darkfost said on July 20 that Binance and Bybit have continued to post declines in stablecoin reserves, with cumulative outflows of more than $2.3 billion over the past 30 days. He said the trend reflects a lack of fresh liquidity entering the crypto market.
Stablecoin reserves fell on both exchanges
Darkfost wrote that Binance’s stablecoin reserves dropped by about $1.55 billion over the past 30 days, while Bybit’s fell by roughly $786 million over the same period. The combined outflow from the two trading platforms was close to $2.3 billion.
Bitcoin liquidity remains under pressure
He said Bitcoin has spent about 165 straight days fluctuating around the key $60,000 level. Although BTC briefly broke above $80,000 in May, the move failed to sustain its momentum.
Darkfost said the market currently lacks new capital inflows, and that fresh demand remains weak for both BTC and the broader crypto market.
Outflows have led since the start of the year
He also said stablecoin reserves on trading platforms have been falling since the beginning of the year, with capital outflows remaining dominant. That, he said, suggests investors are reducing fund allocations on exchanges, and that some capital may even have exited the market.
In his view, shrinking liquidity and cautious market sentiment remain major barriers to a breakout from Bitcoin’s current consolidation range.
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