USDC and Bitcoin drive $850 million withdrawals from exchanges in 24 hours

USDC and Bitcoin lead $850M exchange outflows into July 1

Exchanges saw ~$850M leave in 24 hours. CryptoQuant tracked the move.

• Net outflows about $850M in 24h, per CryptoQuant.
• USDC led with ~$503M out, per CryptoQuant.
• Bitcoin saw ~$352.7M out, per CryptoQuant.
• Flows show wallet moves, not direct buys or sells.

Stablecoin moves matter. USDC often settles trades and funds DeFi. Outflows can mean on-chain deployment, venue shifts, or custody.

BTC withdrawals add a second signal. Coins off exchanges are less sell-ready. But wallets move for operations too. The read improves if outflows persist and price firms.

June was choppy. Spot ETF demand weakened. Liquidity stayed thin. In this backdrop, reserves hint at positioning, not a verdict.

Bottom line is balanced. Capital is leaving centralized venues. That can support self-custody or DeFi. It is not proof of imminent buying.

Source: CryptoQuant