- In the context of $BTC price sharply correcting to the 61k zone, on-chain data from CryptoQuant reflects pressure from the capital flow structure on Binance exchange:

- The downward price momentum since mid-May has been accompanied by an upward shift in the Exchange Stablecoins Ratio. An increase in this ratio means that stablecoin reserves are becoming relatively low compared to the amount of $BTC on the exchange. The current buying power is not yet strong enough to fully absorb the selling pressure, leaving the price vulnerable in the short term.

- For $BTC to establish a sustainable bottom zone, this indicator needs to show clear signs of cooling down—evidence that stablecoin capital flows are returning to the system to trigger demand. This phase requires patience in observing the movement of #stablecoin capital flow before confirming a reversal signal.

Written by Rei Researcher