Analysis: Binance and Bybit See Stablecoin Outflows of Over $2.3 Billion in the Past 30 Days, While BTC Liquidity Remains Tight

BlockBeats News, July 20th, CryptoQuant analyst Darkfost stated in a post that Binance and Bybit have seen a continuous decrease in stablecoin reserves recently, with a total outflow of over $2.3 billion in the past 30 days, reflecting a lack of new liquidity in the crypto market.

Over the past nearly 30 days, Binance's stablecoin reserves have decreased by around $1.55 billion, while Bybit has decreased by about $0.786 billion. The outflow from these two major exchanges has reached nearly $2.3 billion in total.

Bitcoin has been oscillating around the key level of $60,000 for about 165 consecutive days. Although it briefly rose above $80,000 in May, the uptrend was not sustained. The current market lacks new capital inflow, resulting in weak additional demand for both BTC and the overall crypto market.

Since the beginning of the year, stablecoin reserves on exchanges have been steadily decreasing, with outflows dominating. This indicates that investors are reducing their exchange holdings, and some funds may even be exiting the market. Liquidity contraction and cautious market sentiment have become important resistance factors for Bitcoin to break out of its current range.