Binance and Bybit stablecoins shed over $2.3 billion in 30 days, causing Bitcoin liquidity to dry up

CryptoQuant analyst Darkfost stated that the total stablecoin outflows from Binance and Bybit over the past 30 days have exceeded $2.3 billion, leading to a depletion of Bitcoin liquidity. Bitcoin has been testing the price of $60000 for nearly 165 consecutive days, and broke through $80000 in May but failed to hold on. The lack of new liquidity inflows in the market makes it difficult to meet the demand for direct investment in the Bitcoin and cryptocurrency markets. Since the beginning of the year, the exchange's stablecoin reserves have continued to decline, with capital outflows exceeding inflows.