Crypto Stablecoin Liquidity Shifts As Bear Market Deepens – What The Data Reveal

Bitcoinist02-18

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Ad Disclosure\n\nThe crypto market continues to face intense selling pressure as both Bitcoin and Ethereum struggle ...</p>\n\n<a href=\"https://bitcoinist.com/crypto-stablecoin-liquidity-shifts-bear-market-deep/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EETH","symbol_name":"以太币期货ETF-ProShares","start_time":0,"source_url":"https://bitcoinist.com/crypto-stablecoin-liquidity-shifts-bear-market-deep/","article_id":"2612414047","we_media_id":null,"thumbnails":["https://bitcoinist.com/wp-content/uploads/2026/02/Untitled-design-2026-02-17T062005.820.jpg?resize=350%2C250"],"rights":{"source":"bitcoinist_highlight","url":"https://bitcoinist.com/crypto-stablecoin-liquidity-shifts-bear-market-deep/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2612414047","pubTimestamp":1771398042,"columns":[],"sourceInfo":{"source_id":"bitcoinist_highlight","name":"Bitcoinst"},"weMediaInfo":null,"summary":"The crypto market continues to face intense selling pressure as both Bitcoin and Ethereum struggle to reclaim key psychological levels....","collect":0,"end_time":0,"defaultTopTitle":"bitcoinist.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EETH":"以太币期货ETF-ProShares","ETHT":"ProShares Ultra Ether ETF","ETU":"T-Rex 2X Long Ether Daily Target ETF","ETHI":"Defiance Leveraged Long Income Ethereum ETF","ETCO":"Grayscale Ethereum Covered Call ETF","YETH":"Roundhill Ether Covered Call Strategy ETF","ETHU":"2倍以太币期货ETF-Volatility Shares","ETHV":"以太坊ETF-VanEck","EZET":"以太坊ETF-Franklin","SETH":"1倍做空以太币期货ETF-Proshares","ETHW":"以太坊ETF-Bitwise","ETH":"低成本以太坊ETF-Grayscale","ETHA":"以太坊ETF-iShares","QETH":"以太坊ETF-Invesco Galaxy","FETH":"以太币ETF-Fidelity","ETHD":"ProShares UltraShort Ether ETF","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETHE":"最大以太坊ETF-Grayscale","BTF":"比特币&以太币期货ETF-CoinShares"},"translate_title":"随着熊市加深，加密货币稳定币流动性发生变化——数据揭示了什么","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETHD":0.6,"EZET":0.6,"ETHW":0.6,"ETHV":0.6,"ETHT":0.6,"ETHI":0.6,"ETCO":0.6,"BTF":0.6,"ETH":0.6,"FETH":0.6,"YETH":0.6,"ETU":0.6,"EETH":0.6,"SETH":0.6,"ETHA":0.6,"ETQ":0.6,"ETHE":0.6,"ETHU":0.6,"QETH":0.6},"content_text":"Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure\n\nThe crypto market continues to face intense selling pressure as both Bitcoin and Ethereum struggle to reclaim key psychological levels. Repeated rejection near resistance zones has reinforced cautious sentiment across the sector, with investors increasingly defensive after months of declining liquidity and volatile price action. While corrective phases are typical following strong bull market advances, the persistence of downside pressure suggests a more prolonged adjustment period may be unfolding.\nRelated Reading: Crypto Accumulation Narrative Builds After Record Binance COMP Withdrawal\nOn-chain data provides additional context for this shift in market dynamics. According to recent analysis, stablecoin reserve growth peaked shortly before the late-2025 price decline. In the 30 days leading up to November 5, reserves expanded by approximately $11.4 billion, reflecting strong liquidity availability and risk appetite at the time. However, this trend reversed quickly as market conditions deteriorated, with reserves falling roughly $8.4 billion by December 23 as the bear phase began to take shape.\n\n\n\n\n\n\nMore recently, the pace of outflows has moderated, with reserves declining by about $2 billion over the past month. This slowdown may indicate stabilization in liquidity conditions, though it does not yet confirm a sustained recovery. For now, the market remains sensitive to macro conditions, capital flows, and investor confidence.\n\n\n\n\n\n\n\n\nStablecoin Liquidity Concentration Highlights Binance’s Dominant Market Role\n\n\n\n\nThe data further shows that stablecoin liquidity remains heavily concentrated on Binance, reinforcing its role as the primary hub for crypto market liquidity. Current figures indicate the exchange holds roughly $47.5 billion in combined USDT and USDC reserves, marking a 31% year-over-year increase from about $35.9 billion. This concentration is significant, as Binance alone accounts for approximately 65% of all USDT and USDC held across centralized exchanges, highlighting its dominant position in facilitating trading flows and liquidity provisioning.\n\nCrypto Exchanges Stablecoin Reserves | Source: CryptoQuant\n\n\n\nOther major exchanges lag considerably behind in stablecoin reserves. OKX holds around $9.5 billion, representing roughly a 13% share, while Coinbase maintains approximately $5.9 billion, or about 8%. Bybit follows with close to $4 billion, equivalent to roughly 6% of exchange stablecoin liquidity. These balances are distributed mainly across Ethereum and TRON networks, which continue to serve as the primary infrastructure layers for stablecoin settlement.\nWithin Binance itself, liquidity remains overwhelmingly USDT-driven. About $42.3 billion of its reserves are held in USDT, reflecting a 36% year-over-year increase from approximately $31 billion. In contrast, USDC reserves stand near $5.2 billion and have remained broadly flat over the same period, suggesting stable but limited growth compared with USDT dominance.\nRelated Reading: Ethereum Coinbase Premium Jumps – Is US Selling Pressure Finally Fading?\n\n\n\n\n\n\n\nTotal Crypto Market Cap Tests Key Structural Support\nThe total crypto market capitalization chart shows a clear corrective phase following the late-2025 peak near the $4 trillion region. Since that high, the market has retraced significantly, with capitalization recently stabilizing around the $2.3 trillion level. This area appears to function as an interim support zone, although price action remains fragile and characterized by reduced upside momentum.\nCrypto Total Market Cap | Source: TOTAL chart on TradingView\nFrom a trend perspective, the market has broken below shorter-term moving averages and is now interacting with longer-term trend indicators. This shift typically signals a transition from expansion to consolidation or correction. The inability to sustain rebounds above the mid-range moving average suggests that buying pressure remains subdued, while sellers continue to dominate rallies.\nRelated Reading: The Cycle Without A Ceiling: Why Bitcoin’s Missing Peak Rewrites The Rules For The 2026 Bottom\nVolume dynamics reinforce this interpretation. Elevated selling volume accompanied the most recent decline, indicating active distribution rather than passive drift. However, the subsequent moderation in volume hints that panic selling may be easing, even if conviction buying has yet to return decisively.\nStructurally, the broader uptrend remains intact only while capitalization holds above the long-term trend support zone. A sustained breakdown below this level would likely confirm a deeper cyclical correction, whereas stabilization here could support a prolonged consolidation phase before any renewed expansion in the crypto market.\nFeatured image from ChatGPT, chart from TradingView.com \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEditorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2612414047","isCrawlerRequest":true}