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 Data Has a Clue appeared first on BeInCrypto.
Key Takeaways
- 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.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Security
Trump didn‘t mention ‘crypto’ once in White House cybercrime roundtable
The US President detailed many schemes defrauding Americans, but referred only to “cybercurrency“ related to scams.
Trump to throw spotlight on overseas crypto abuses at White House event
The president is hosting a cybercrime event that will highlight U.S. authorities' efforts to crack down on crypto scams run by foreign criminal organizations.
Why the EU Is Telling Some Websites to Switch Themselves Off
Two critical PHP vulnerabilities rated 9.2 put websites at risk. Learn why CERT-EU tells unpatched sites to go offline and what owners can do. The post Why the EU Is Telling Some Websites to Switch Themselves Off appeared first on BeInCrypto.