According to online reports, CryptoQuant analysts published an article saying that the crypto market has continued to be sluggish recently, and demand for Bitcoin and other major assets has weakened. Data shows that the continued decline in Binance stablecoin reserves (especially USDT and USDC) is the key reason for this trend. As the main source of market liquidity, stablecoins 'reserves directly affect the purchasing power and market activity of cryptocurrencies. Since the beginning of 2025, Binance's USDT and USDC reserves have decreased week by week, indicating that market purchasing power has declined, new capital inflows have been limited, and market buying pressure has weakened, which is consistent with Bitcoin's recent difficulty in breaking through key resistance levels. Analysts believe that if stablecoin reserves continue to decline, liquidity in the cryptocurrency market may tighten further, delaying any major upward trend. Conversely, if reserves rebound, it may signal new capital inflows and recovery in demand.