Binance Buying Power Hits 2024 Lows as Stablecoin Reserves Fall 18%
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The 90-day Buying Power Ratio on Binance has dropped to -0.086, indicating a significant decline in stablecoin reserves from $50.9B to $41.4B since November, marking a cycle low. While short-term selling pressure is easing, liquidity on the exchange remains tight, affecting crypto trading dynamics.
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- The 90-day Buying Power Ratio has dropped to cycle-low levels of around -0.086.
- Binance stablecoin reserves fell from $50.9B to $41.4B since November.
- Short-term selling pressure is easing, but liquidity remains tight.
Something important is unfolding at Binance, and it centers on liquidity. According to CryptoQuant, the exchange’s 90-day Buying Power Ratio, which compares stablecoin reserves to Bitcoin outflows, has fallen to -0.086. This means the amount of available stablecoin “dry powder” on Binance is at its lowest level in more than a year.
The last time the ratio reached similar levels was in July and August 2024. Back then, Bitcoin was stuck between $54,000 and $68,000, and market sentiment was shaky. Within months, BTC climbed to $102,000 by December.
At the time of writing, Bitcoin is down and is trading near $63k.
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