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Bitcoin faces resistance near $75K as on-chain data signals profit-taking

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Source: CryptoQuant

Recent on-chain data shows a sharp rise in Bitcoin (BTC) movement to exchanges.

Summary

  • Binance inflow CDD spike suggests long-term Bitcoin holders moving funds to exchanges for profit-taking.
  • NUPL indicator rise signals improving sentiment and growing unrealized profits among Bitcoin investors.
  • Bitcoin Composite Index remains above 1.0, indicating no confirmed market bottom formation yet.

On April 14, Binance recorded a major spike in Exchange Inflow Coin Days Destroyed (CDD), reaching about 2.59 million.

Analysts link this surge to long-term holders moving older coins. This behavior often appears when investors prepare to take profits after price recovery phases.

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The spike occurred as Bitcoin climbed back toward the $75,000 range. Data suggests that older holdings, which remained inactive for long periods, are now entering exchanges.

Analyst CryptoOnchain stated ”this surge suggests long-term holders are securing profits” while referring to the timing of the inflow spike.

NUPL indicator signals rising market confidence

Another on-chain metric, Net Unrealized Profit/Loss (NUPL), has also shown movement. The indicator recently climbed to around 0.29, its highest level since late January.

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This level is commonly linked to the “belief” phase in market cycles. It reflects growing unrealized profits among investors and a shift toward positive sentiment.

Analyst Arab Chain noted ”the market is showing renewed optimism and rising profits” based on the recent NUPL trend. The increase follows a period of volatility earlier in the year.

The indicator suggests that the market has regained balance after recent declines. It also shows signs of new capital entering the market.

Composite Index shows no clear bottom formation

The Bitcoin Composite Index (BCI), which combines NUPL and MVRV data, remains above the key level of 1.0. Analysts use this level to assess whether the market has reached a bottom.

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Historical data shows that strong accumulation phases often occur when the index drops below this threshold. Current readings suggest that such conditions have not yet been reached.

Source: CryptoQuant
Source: CryptoQuant

Analyst Zizcrypto stated ”the index remains above bottom levels, indicating normalization rather than full reset” when describing the current position.

This reading points to a market that is stabilizing rather than entering a deep accumulation phase.

Price movement and market conditions

Bitcoin recently failed to hold above $78,400 and has moved closer to $75,000. The price drop followed renewed geopolitical tension linked to developments in the Middle East.

The asset had earlier gained momentum after reports of progress in diplomatic talks. It moved from below $70,500 to above $76,000 before reaching a local high.

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Market uncertainty returned after conflicting updates regarding the Strait of Hormuz. This led to a price correction of more than $3,000 from the peak.

The broader crypto market also declined, with total market value dropping by around $100 billion.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Crypto World

Stablecoins Do Not Threaten Banking Just Yet: Analyst

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Stablecoins Do Not Threaten Banking Just Yet: Analyst

The impact of stablecoins on the banking sector appears “limited” at the current phase of the adoption cycle, but banks could face increasing competition and an erosion of market share as the stablecoin sector and tokenized real-world assets (RWAs) grow in market capitalization. 

“So far, the use of stablecoins remains limited, but their market capitalization exceeded $300 billion at the end of last year,” Abhi Srivastava, associate vice president of Moody’s Investors Service Digital Economy Group, told Cointelegraph.

The stablecoin market cap has surged past $300 billion. Source: RWA.xyz

The role of stablecoins in payments, cross-border commerce and onchain finance is “expanding,” despite their currently limited role, Srivastava said, adding that existing payment systems in the US are already “fast, low-cost and trusted.” He said:

“For the banking sector, at this stage, disruption risk appears limited. In the near term, US rules that prohibit stablecoins from paying yield mean they are unlikely to replace traditional deposits at scale domestically.”

However, over time, growing adoption of stablecoins and tokenized RWAs, traditional or physical financial assets represented on a blockchain by a token, could place “pressure” on the banking sector, leading to deposit outflows and reduced lending capacity, he said.

Stablecoin regulatory policy has become a hot-button issue among crypto industry executives and those in the banking sector, with fears that yield-bearing stablecoins could erode banking market share proving to be a stumbling block for the CLARITY crypto market structure bill in Congress. 

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Related: Stablecoins behave like FX markets as liquidity splits: Eco CEO

CLARITY Act stalled, as banks fight yield-bearing stablecoins

The Digital Asset Market Clarity Act of 2025, also known as the CLARITY Act, is a comprehensive crypto market regulatory framework that establishes an asset taxonomy, regulatory jurisdiction and oversight over the crypto markets.

The CLARITY crypto market structure bill. Source: US Congress

It is now stalled in Congress after a group of crypto industry companies, led by cryptocurrency exchange Coinbase, publicly stated opposition to earlier drafts of the bill.

A lack of legal protections for open-source software developers and a prohibition on yield-bearing stablecoins were among some of the most contentious issues cited by crypto industry opponents of the legislation.

Several attempts have been made by US lawmakers and the White House to negotiate a bill acceptable to both the crypto industry and the bank lobby.

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Earlier this month, North Carolina Senator Thom Tillis said he plans to release an updated draft bill proposal that would be acceptable to both sides; however, the bill has reportedly received pushback, according to Politico, and has yet to be publicly released. 

However, other crypto industry executives and market analysts have warned that if the CLARITY Act fails to pass, it could open the crypto industry up to future regulatory crackdowns by hostile lawmakers and officials.

Magazine: Stablecoins will see explosive growth in 2025 as world embraces asset class