Short-term BTC holder losses, lower exchange stablecoin balances seen capping rebounds

XWIN Japan said on its official X account that losses among short-term Bitcoin holders and declining stablecoin holdings on major exchanges are the main reasons BTC price rebounds have struggled to last. According to the firm, BTC recently moved by short-term holders has, on average, been traded at a loss. As those holders continue realizing losses and stablecoin liquidity on exchanges also declines, the market’s buying power is weakening, XWIN Japan said. The firm added that the drop in stablecoin balances does not necessarily mean capital is leaving the crypto market, as funds may have shifted to DeFi, other chains, or personal wallets.