分析师：Stablecoin Reserve Decline Signals Liquidity Contraction, Bitcoin Breakout Lacks Funding Support

Odaily Odaily reports that CryptoQuant analyst Darkfost stated on X platform that Bitcoin has been oscillating around the key support level of $60,000 for nearly 165 days, failing to hold and reignite upward momentum. One core reason is the lack of new liquidity in the market. Over the past 30 days, Binance and Bybit have seen a net outflow of nearly $2.3 billion in stablecoin reserves. New demand, whether flowing into Bitcoin or the broader crypto market, remains relatively weak. The continuous decline in exchange stablecoin reserves this year reflects this bearish market sentiment, which continues to limit the funding support needed for Bitcoin to break out of its current consolidation range.

However, as regulatory measures such as the GENIUS Act require stablecoins to enhance compliance, the decentralized nature of the stablecoin ecosystem may be weakened. In the long term, Bitcoin's decentralized characteristics could therefore become more prominent.