Binance’s stablecoin reserves have fallen to $41.6 billion, their lowest level in a year, after $6.3 billion left the exchange since April. The outflow is market-wide and is depriving cryptocurrency rallies of fresh buying power. Bitcoin (BTC) trades near $83,350, roughly 4% below its September peak. Prices have not collapsed, but the contraction in available liquidity is slowing upward movements.
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