What Does $2.3B Stablecoin Exodus From Binance and Bybit Mean for Bitcoin
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Bitcoin (BTC) is consolidating just above $60,000 and has now spent about 165 days testing that level after a May rally that briefly pushed prices above $80,000 failed to sustain. Analysts point to a lack of fresh liquidity entering the crypto market as the main factor preventing a stronger BTC uptrend and raising short-term downside risk.
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Bitcoin (BTC) continues to trade in a consolidation phase, a little above the $60,000 level. The market is approaching 165 days of testing that crucial price zone despite a rally above $80,000 in May that ultimately failed to sustain momentum, according to analyst Darkfost.
The analyst pointed to a lack of fresh liquidity entering the crypto market as one of the main reasons behind Bitcoin’s inability to establish a stronger uptrend.
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