CryptoQuant analyst Darkfost said Binance and Bybit recorded combined stablecoin outflows of more than $2.3 billion over the past 30 days, pointing to weakening Bitcoin liquidity. According to his post, Binance alone lost $1.55 billion in stablecoin reserves during the period, while Bybit posted a $786 million decline. Darkfost said exchange stablecoin reserves have been falling almost continuously since the start of the year, with outflows clearly outpacing inflows.
He also noted that Bitcoin has spent nearly 165 consecutive days testing the key $60,000 level. Although the cryptocurrency briefly moved above $80,000 in May, it failed to hold that level or restart broader upward momentum. In his view, one reason is the lack of fresh liquidity entering the market, whether through direct Bitcoin buying or capital allocated to the wider crypto sector.
Darkfost added that shrinking reserves send a clear signal that demand and liquidity are contracting, while investors appear more inclined to withdraw stablecoins from exchanges or leave the market altogether. He said persistently bearish market sentiment continues to deprive Bitcoin of the resources needed to break out of its current consolidation range.
ChainCatcher reported that CryptoQuant analyst Darkfost said Binance and Bybit posted combined stablecoin outflows of more than $2.3 billion over the past 30 days, a sign that Bitcoin liquidity is drying up.
Darkfost said Bitcoin has spent nearly 165 consecutive days testing the key $60,000 level. While it briefly broke above $80,000 in May, it failed to hold that level or revive Bitcoin's upward momentum.
He said one factor behind the setup is the absence of fresh liquidity entering the market. New demand has been hard to generate, whether through direct investment in Bitcoin or broader allocations across the crypto market.
Looking at changes in exchange stablecoin reserves, he described conditions since the start of the year as particularly weak. Reserves have declined almost continuously, showing that outflows have clearly exceeded inflows.
Over the past 30 days alone, Binance lost $1.55 billion in stablecoin reserves, while Bybit lost $786 million over the same period.
Darkfost said the decline in reserves sends a clear signal that demand and liquidity are shrinking, and that investors appear inclined to withdraw stablecoins from exchanges or exit the market entirely.
He added that market sentiment remains overly bearish, continuing to deprive Bitcoin of the resources needed to break out of its current consolidation range.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
