Crypto news: Bitcoin loses 2% 🚩 Will crypto fall down again?

Cryptocurrencies are posting moderate declines today amid cautious sentiment on Wall Street and ongoing uncertainty across global markets. Bitcoin is down more than 2%, while the broader crypto market continues to face a serious challenge in terms of capital inflows and investor engagement. Notably, the supply of the USDT stablecoin has fallen by more than $3 billion over the past two months, echoing the bear market pattern seen in 2022.

On-chain data

USDT has just triggered a signal previously seen only at the 2022 market bottom. Historically, extreme liquidity stress has marked potential opportunity zones, but only after confirmation of selling pressure exhaustion.

Source: CryptoQuant

Bitcoin has recorded low network activity for six consecutive months. The last time a similar dynamic was observed was in 2024, when Bitcoin’s price underwent a correction of roughly -30%.

Source: CryptoQuant

The Binance Buying Power Index has dropped to levels seen in the past. The data points to a familiar pattern: a compressed demand window, a market catching its breath, and, if history were to rhyme, a setup that has statistically tended to resolve to the upside.

Source: CryptoQuant, Binance

Flows into Bitcoin and Ethereum ETFs

The past several sessions have continued to show net outflows from Bitcoin and Ethereum ETFs. Wall Street appears to be distributing exposure despite significant price declines in recent weeks.

Source: Bloomberg Finance L.P.

Bitcoin and Ethereum (D1, H1)

Both cryptocurrencies have experienced sharp declines. However, as seen on the hourly timeframe, selling pressure remains persistent. The lack of a structural demand impulse has become the crypto market’s central issue, possibly even more significant than the overhang of latent supply.

Source: xStation5

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