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CryptoQuant Analyst: BTC exchange inflows surge to 114k coins; stablecoin outflows weaken buying pressure, triggering market structural pressure
Deep Tide TechFlow News, June 12 — CryptoQuant analyst Axel Adler stated that Bitcoin (BTC) is experiencing large inflows into exchanges, while stablecoin liquidity continues to flow out, with both supply and demand sides deteriorating simultaneously, which is considered a significant reason for Bitcoin's approximately 22% decline from its May high.
Data shows that the 30-day net exchange flow indicator for Bitcoin has turned clearly positive, currently around +114k BTC. Compared to the net outflow of about -85k to -115k BTC in early May, the market has shifted from accumulation to distribution. This indicator once rose to about +167k BTC in early June, indicating that more holders are transferring BTC to exchanges, increasing potential selling pressure.
Meanwhile, the 30-day moving average net flow of stablecoins remains in negative territory, currently about -$105 million. In early May, this indicator was still in the range of +$40 million to +$90 million, indicating strong buying liquidity in the market; but since mid-May, it turned negative and expanded to about -$150 million to -$170 million in early June, showing stablecoin funds are leaving exchanges, and the market's "ammunition" is decreasing.