The recent $BTC bearish trend is driven by weakening buying power on Coinbase.

The previous $BTC rally was led by Binance and Coinbase together. They accounted for over half of all stablecoin inflows.

However, stablecoin inflows to Coinbase have recently dropped significantly.

Binance maintains daily inflows exceeding $1 billion, while Coinbase has seen a sharp decline to the $400–$500 million range. It is less than half of the inflow levels seen during the recent rally.

This upward pressure decrease has contributed to the bearish trend in $BTC.

Inflow trends for Binance remain solid, but U.S. buying power is decreasing.

Written by CW8900