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As Bitcoin (BTC) retreats from its recent all-time high (ATH) of $111,814 – currently trading in the mid-$100,000 range – emerging on-chain data signals that the cryptocurrency’s strong momentum over the past month may be waning.
Deeper Correction Ahead For Bitcoin?
Amr Taha’s recent CryptoQuant Quicktake article reveals that the Bitcoin market has undergone several significant on-chain changes. There are significant outflows in stablecoins on Binance, as well a drop in participation by long-term investors (LTH), and divergent patterns of accumulation among wallet cohorts.
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Binance’s net outflow in stablecoins of more than $1 billion is one of the most notable indicators. The net outflow of over $1 billion in stablecoins from Binance is a striking indicator.
Stablecoin withdrawals of this magnitude can be a sign that the buying power is declining. They may also indicate an upcoming market downturn or shift towards profit-taking. BTC could continue to fall, and lose the psychologically significant $100,000 mark if the current trend persists.
Long-term investors (LTHs) also reduced their exposure. The Net Position Realized Cap for LTHs plummeted from $28 billion to just $2 billion by the end of May 2025 – signaling that these investors are no longer increasing their exposure despite the recent price surge.
The 60-day trends in wallet behaviour also indicate a divergence of market sentiment. Retail cohorts of 100 to 1000 BTC have been aggressively buying up and adding to the rally, while large holders have gradually been offloading 1,000 to 10,000 BTC. Taha remarked:
Combining heavy withdrawals of stablecoins with reduced LTH and changing cohort behaviours signals that the market is in transition. This will determine whether the market enters a period of cooling, consolidation or a new phase. It also depends on the amount of capital that returns to the system, and if retail buyers are able to sustain the current rally.
The Hope is Not Lost
The data above may indicate a possible looming correction in the price of the digital asset at the top, but other data on the chain could also be pointing to a similar outcome. shows BTC will likely continue to rise, possibly to new highs.
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CryptoQuant Contributor Crypto Dan has recently been featured in the media highlighted The Bitcoin Net Realized Loss/Profit (NRPL), a metric that measures the Bitcoin’s profit-taking, is on a steady upward trend.
BTC is also being withdrawn from exchanges that are centralized. increasingRecently, Coinbase has withdrawn 7,883 BTC. The withdrawal could indicate a renewed institutional interest in BTC and accumulation of the currency ahead of another upward movement. BTC is currently trading at $103,854, a decrease of 0.2% over the last 24 hours.
Charts from TradingView.com and CryptoQuant.com.
“This article is not financial advice.”
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Source: www.newsbtc.com
