On June 16, CryptoQuant analyst Axel Adler Jr wrote that "In December 2024, when BTC was trading between $98,000 and $100,000, the daily average funds of USDT and USDC flowing into all centralized exchanges (CEX) reached a record $131 billion. By June, this number has dropped to $70 billion daily - $5 billion lower than the 365-day average of $75 billion, and $61 billion lower than the peak.
This indicates that the liquidity flowing into trading platforms has continued to slow down compared to the beginning of the year, although the current funding level remains far higher than during the early stages of the bull market.
This decline reflects the natural cooling of market overheating, and BTC's maintenance above $100,000 also shows that market participants intend to continue holding positions and reduce selling.
Currently, we are in a consolidation and bottoming phase before the launch of the next market trend."
