Bitcoin ETFs posted $277.5M in outflows after five inflow days as BTC dipped 
below $80K, while MSBT still attracted new capital.

BTC falls under $80K as Bitcoin ETFs record first May outflows

Buyers on Binance shifted decisively in recent weeks. The exchange&#8217;s seven-day 
net taker volume swung from roughly -$1 billion in late March — a period 
dominated by sellers — to around $2.6 billion by early May, signaling that 
demand had returned with some force. Related Reading: XRP Market Now 
Controlled By Whales? Dominance Reaches 91% On Binance Reserves Hit Levels Not 
Seen Since Late 2023 That shift in buyer behavior is playing out against a 
backdrop of shrinking Bitcoin supply on major exchanges. Combined outflows 
from Binance, OKX, and Gemini have reached nearly 100,000 BTC since February — 
worth over $8 billion at current prices — pushing reserves to their lowest 
point in roughly two and a half years. Binance recorded the steepest drop. Its 
holdings fell from about 670,000 BTC in late February to nearly 620,000 BTC by 
May 7, dipping below levels last seen in December 2023. OKX shed close to 
30,000 BTC over a similar stretch, sliding from 132,000 BTC in early March to 
around 102,000 BTC. Gemini followed a similar path, declining from 114,800 BTC 
in early February to 95,000 BTC. According to a crypto analyst, a broad 
drawdown across multiple platforms carries more significance than outflows 
from a single exchange. When Bitcoin leaves several major venues at once, it 
points to a wider shift in how holders are managing their coins — not just 
routine transfers between wallets on the same platform. OTC Supply Tightens 
Alongside Exchange Withdrawals The supply crunch isn&#8217;t limited to exchange 
order books. Over-the-counter desk balances — used by large buyers and 
institutions to move Bitcoin privately, outside of public markets — have also 
tightened. The 30-day OTC balance change turned negative, posting a net 
decline of roughly 24,940 BTC. That&#8217;s a sharp contrast to early February, when 
the same measure stood at nearly +25,300 BTC following a dip in Bitcoin&#8217;s 
price toward $60,000. The reversal indicates that fresh Bitcoin supply flowing 
into OTC channels has slowed considerably since that earlier sell-off. 
Accumulation Picks Up Among Long-Term Holders Long-term holders stepped up 
their buying during Bitcoin&#8217;s recovery toward $82,800. Data from CryptoQuant 
shows demand from accumulator addresses climbed to 264,000 BTC on May 6, up 
60% from 164,440 BTC just two weeks earlier on April 23. The metric had 
bottomed near 100,000 BTC in mid-March before rebounding. Related Reading: 
Bitcoin Eyes $90K As Bears Get Burned Again Amid $30B Open Interest Surge 
Accumulator addresses typically represent buyers who add to their holdings 
consistently and rarely sell — a cohort watched closely as a gauge of 
conviction among experienced market participants. Featured image from 
Unsplash, chart from TradingView

Bitcoin Supply Shock: 100,000 BTC Vanish From Exchanges In Under 90 Days

European Central Bank President Christine Lagarde has intensified her 
opposition to euro-denominated stablecoins, warning that the risks to 
financial stability and monetary control outweigh any benefit to the euro’s 
international role. Speaking Friday at the Banco de Espana LatAm Economic…

ECB chief Christine Lagarde raises fresh concerns over euro stablecoins

Coinbase, the largest US-based exchange, ended a difficult first quarter with 
a fresh test of investor confidence after the crypto exchange missed Wall 
Street estimates by reporting another quarterly loss, and later suffered a 
service disruption tied to an Amazon Web Services (AWS) outage. The sequence 
gave investors a sharp reminder of the company’s two […]
The post Coinbase went down for over 5 hours after missing earnings. Bulls 
still see a path to $300 billion by 2030 appeared first on CryptoSlate.

Coinbase went down for over 5 hours after missing earnings. Bulls still see a path to $300 billion by 2030

A mysterious crypto whale with alleged ties to industry veteran Erik Voorhees 
has added another $6.67 million in ether to a position that has already 
accumulated more than $266 million worth of the token. Key Takeaways: A whale 
wallet linked to Erik Voorhees bought 2,920 ETH for $6.67M on May 8, 2026, per 
Lookonchain. The […]

Whale Potentially Linked to Erik Voorhees Spends Another $6.67M on ETH

Increased US-Iran tensions may disrupt Strait of Hormuz shipping, impacting 
global oil markets and prompting diplomatic or military responses.
The post Iran captures tanker in Gulf of Oman amid US maritime tensions 
appeared first on Crypto Briefing.

BTC falls under $80K as Bitcoin ETFs record first May outflows

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