Why Does Bitcoin Keep Losing Steam? On-Chain Data Has a Clue

Your call?🐂 Bullish🐻 Bearish

$41.6B

Binance stablecoin reserves

$BTC

$84,548

+1.6%

$USDT

$182.78B mcap

$BNB

$747.51

+1.2%

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.…