Why Does Bitcoin Keep Losing Steam? On-Chain Data Has a Clue
Binance’s stablecoin reserves have dropped to $41.6 billion, a one-year low, after $6.3 billion left the exchange since April. The drain is market-wide, and it is starving crypto rallies of fresh buying power. Prices have not collapsed. Bitcoin (BTC) trades near $83,350, roughly 4% below its September peak. However, the cash needed to push it The post Why Does Bitcoin Keep Losing Steam? On-Chain…
Binance's stablecoin reserves have fallen to $41.6 billion, a one-year low, with $6.3 billion leaving the exchange since April. The drain is market-wide and reduces the dry powder available to fuel crypto rallies. Bitcoin trades near $83,350, about 4% below its September peak, so prices haven't collapsed but the shrinking stablecoin liquidity suggests limited fresh buying power ahead.
