Evening star pressure, BTC main player has completed over 21 million US dollars in sell orders

BlockBeats News: On January 15th, CoinDesk market analyst Omkar Godbole stated that the rapid rebound of Bitcoin (BTC) from below $90000 since Monday suggests a bullish outlook. However, there is a factor that raises doubts about the sustainability of the upward trend, as if the upcoming US inflation data is higher than expected, the market may experience significant downward volatility. This factor is that the supply of major stablecoins has stagnated, indicating a lack of new capital inflows into the market. According to Glassnode data, the supply of the top four stablecoins ranked by market capitalization - USDT, USDC, BUSD, and DAI - has stabilized at approximately $189 billion, with a net change of only 0.37% within 30 days. The latest slowdown in new liquidity entering through stablecoins indicates a weakened buying environment before the release of US CPI data, which is in stark contrast to the rebound period from November to December 2023 and the expansion of stablecoin liquidity at the beginning of last year. Higher than expected data may exacerbate concerns that the Federal Reserve's interest rate cuts may be lower than expected. These concerns, combined with Friday's strong employment report, partially led BTC to fall below $90000 on Monday.

OKX-OKB/USDT is now reported at $5.02, with a 24-hour increase of 0.83%. Please pay attention to market fluctuations.

Binance has announced that it will delist the USD Ⓢ - M REEFUSDT perpetual contract at 4:00 PM (Beijing time) on January 22, 2025, and adjust the leverage and margin levels of the contract.

According to South Korean media reports, the Financial Information Analysis Unit (FIU) of the Financial Services Commission of South Korea plans to convene a sanctions review committee against Upbit on January 21. This is due to the discovery of issues related to customer identification (KYC) obligations violations during on-site inspections of virtual asset service provider (VASP) registration updates. The review results may involve the determination of disciplinary actions and fines for Upbit employees. Industry insiders expect that the update registration process for virtual asset service providers will gradually advance after the sanctions review. The registration update for Upbit, which was originally scheduled to be completed in October last year, has been delayed due to this incident and is still awaiting the processing results.