CryptoQuant analysts said BTC exchange inflows surged to 114,000 stablecoins outflows weakened buying, triggering structural pressure on the market

CryptoQuant analyst Axel Adler issued a statement saying that Bitcoin (BTC) is flowing into the exchange in large quantities, while stablecoin liquidity continues to flow out, and both sides of the market have deteriorated at the same time. This is considered to be an important reason why Bitcoin has fallen by about 22% from its May high. Data shows that Bitcoin's 30-day net exchange flow indicator has turned significantly positive, currently about +114,000 BTC. Compared with the net outflow of approximately-85,000 to-115,000 BTC in early May, the market has shifted from the accumulation stage to the allocation stage. The indicator once rose to about +167,000 BTC in early June, indicating that more currency holders have transferred BTC to exchanges, increasing potential selling pressure. At the same time, the 30-day moving average net flow of stablecoins continues to be negative and is currently approximately US$105 million. At the beginning of May, this indicator was still in the range of +40 million to +90 million US dollars, indicating that there was strong buying liquidity in the market; but it turned negative since mid-May and expanded to approximately-150 million to-170 million US dollars in early June, indicating that stablecoin funds are leaving the exchange and the market's "ammunition" is decreasing.