CryptoQuant: Bitcoin Exchange Inflows Jump to 114,000 BTC as Stablecoin Outflows Pressure the Market

ChainCatcher reports that CryptoQuant analyst Axel Adler says Bitcoin (BTC) is moving into exchanges at an elevated pace while stablecoin liquidity continues to leave, tightening conditions on both the supply and demand sides. He cited this dynamic as a key driver of Bitcoin's roughly 22% pullback from its May peak. CryptoQuant data shows the 30-day net exchange flow for BTC has flipped decisively positive, currently near +114,000 BTC. In early May, the indicator was in net outflow territory at about 85,000 to 115,000 BTC, pointing to a transition from accumulation to distribution. The metric topped out around +167,000 BTC in early June, suggesting more holders are moving BTC onto exchanges, raising potential selling pressure. At the same time, the 30-day moving average net flow of stablecoins remains negative at roughly -$105 million. In early May, the figure stood at +$40 million to +$90 million, reflecting strong buying liquidity. Since mid-May it has turned negative, widening to around -$150 million to -$170 million in early June, indicating stablecoin funds are leaving exchanges and the market's buying "ammunition" is shrinking.