Binance and Bybit see $2.3 billion stablecoin outflow as Bitcoin stagnates

The Bitcoin market is facing a serious liquidity problem. Data from CryptoQuant shows that Binance and Bybit together have seen more than $2.3 billion in stablecoins leave in the past 30 days, while the Bitcoin price has been consolidating around the $60.000 level for almost 165 days. Currently, Bitcoin is trading at $64.000, a decline of 1.0% over the past 24 hours.

Bitcoin is available at OKX and Bybit.

Massive outflow at the largest exchanges

Stablecoin reserves on major exchanges have been declining for months, but the scale of the outflow has been particularly notable lately. Binance has seen as much as $1.55 billion in stablecoins withdrawn from its reserves in the past 30 days. Bybit adds another $786 million, bringing the combined total for these two platforms to nearly $2.3 billion.

That is a significant amount of purchasing power leaving the market. Analyst Darkfost points out that investors are not only taking their stablecoins off exchanges, but in many cases are leaving the market entirely. The CryptoQuant chart shows that outflows have been dominant since early 2026, with hardly any periods of recovery.

Lack of fresh liquidity hinders Bitcoin breakout

According to the analyst, the absence of new inflows is one of the main reasons why Bitcoin cannot sustainably break above the resistance zone. An attempt to get above $80.000 in May failed, and since then the price has moved sideways in a consolidation phase that has now been going on for over five months. Fresh demand, both for direct Bitcoin exposure and for the broader crypto market, simply refuses to pick up.

The overall market positioning remains too pessimistic, according to Darkfost. As long as investors continue to withdraw stablecoins from exchanges instead of using them for purchases, Bitcoin simply lacks the fuel needed to start a new uptrend. Earlier it was noted that USDC dominance is increasing while Bitcoin faces resistance, which fits this broader picture of caution among market participants.