Bitcoin had a modest start to May, with the flagship cryptocurrency rising as 
much as 3.5% on Friday. As of this writing, the premier cryptocurrency trades 
near $78,400, barely moving over the past day. Interestingly, a market pundit 
has explained how a perceived shift in Bitcoin’s investor behavior could be a 
major influence on the cryptocurrency’s inertia. Buying Power On Binance Fades 
After Bitcoin Rally Crazzyblockk, in a QuickTake post on the CryptoQuant 
platform, highlighted a dynamic shift among Bitcoin investors over the past 
few days. The relevant indicator cited here is the Binance Stablecoin Netflow 
(USD) metric. Related Reading: Bitcoin Apparent Demand Remains Weak — What 
This Says About Price Recovery For context, the metric tracks the net amount 
of stablecoins entering or leaving Binance, thereby indicating whether buying 
power is accumulating (inflows) or being withdrawn (outflows) from the 
exchange. According to Crazzyblockk, Binance (the world’s leading exchange by 
trading volume) had, on a daily basis, recorded significant amounts in net 
inflows from 14th to 22nd April. During this period, Binance saw daily inflows 
of $548 million to $1.14 billion in fresh stablecoins. Interestingly, this 
consistent stream of inflows corresponded with Bitcoin’s recovery from $74,000 
to $78,000. The crypto expert noted that this is a sign of “textbook buying 
power accumulation on Binance.” However, this stream of stablecoin inflows 
appears to have come to an end—an event that could, in turn, cause the rally 
to progressively lose strength. This could, by extension, be a sign of 
potential sentiment shift, as bearish pressure could quickly kick in at major 
resistance levels (as is currently the case). Binance Records $1.54-$1.78B In 
Outflows Per Day Since April 28 On the flipside, investors did not merely hold 
off on their liquidity; they may also be showing signs of a sentiment shift. 
Starting April 28, Binance has seen five consecutive days of stablecoin 
outflows, ranging from $1.54 billion to $1.78 billion each day. According to 
Crazzyblockk, a similarly heavy stablecoin sell-off has not been seen in the 
Bitcoin market since January 26. The last time it happened, daily outflows 
reached $3.2 billion, while the market leader traded near $89,500. Notably, 
that period was followed by a roughly 15% decline in BTC’s price before it 
eventually stabilized around $76,000. Crazzyblockk further explained that this 
is due to a simple mechanism that repeats itself on a smaller scale: 
“stablecoin reserves built up, fueled a rally, then drained as the cycle 
exhausted itself.” Hence, if the stablecoin netflows on Binance fail to 
transition back into the ‘inflows’ side, Bitcoin could be facing significant 
downside risk. To alleviate this risk, Crazzyblockk explained that fresh 
capital, in the form of stablecoins, would need to re-enter exchanges, 
especially Binance. Related Reading: ‘Ethereum’s Price Should Have Dropped 
Already’ – Analyst Explains The On-Chain Signal Behind The Warning Featured 
image from iStock, chart from TradingView

Bitcoin Bulls Show Signs Of Exhaustion Around $78,000 — What’s Next?

Rising tensions in the Strait of Hormuz could disrupt global oil supply, 
escalate military conflicts, and impact international trade stability.
The post Iran warns Strait of Hormuz could become &#8220;graveyard&#8221; for US amid 
rising tensions appeared first on Crypto Briefing.

Iran warns Strait of Hormuz could become “graveyard” for US amid rising tensions

Founders Fund raised a record $6B vehicle led by late-stage deals, with Peter 
Thiel and insiders contributing $1.5B.

Peter Thiel’s Founders Fund raises record $6B fund

Labour&#8217;s potential losses to Reform UK could destabilize Starmer&#8217;s leadership, 
prompting strategic shifts and impacting party unity.
The post Local elections could threaten Starmer&#8217;s leadership amid Reform UK 
gains appeared first on Crypto Briefing.

Local elections could threaten Starmer’s leadership amid Reform UK gains

The increased US military presence in the Middle East heightens regional 
instability, potentially escalating conflicts and impacting global markets.
The post US military aircraft surge towards Middle East amid Iran tensions 
appeared first on Crypto Briefing.

US military aircraft surge towards Middle East amid Iran tensions

The escalation reduces ceasefire prospects, potentially prolonging regional 
instability and impacting global geopolitical and economic dynamics.
The post Russia-Ukraine conflict escalates with renewed strikes, dimming 
ceasefire hopes appeared first on Crypto Briefing.

Cryptocurrency price in CLP

Market Overview