According to analyst Axel Adler Jr., cited by ChainCatcher, over 100,000 BTC flowed into exchanges in the past 30 days while stablecoins simultaneously exited at record pace, intensifying selling pressure. BTC's 30-day net inflow reached 103,000 coins, reversing a 300,000 BTC net outflow recorded in late March. Over the same period, BTC fell from $80,000 to $73,700.
Stablecoin outflows accelerated significantly. Daily average stablecoin outflows reached $153 million, up from $164 million in daily inflows recorded in late April. This shift reduced available liquidity for BTC purchases. When BTC inflows and stablecoin outflows occur simultaneously, they create an unfavorable supply-demand structure typical of risk-off conditions.