The analytical company CryptoQuant has reported a significant decrease in liquidity in the cryptocurrency market, linked to the ongoing budget crisis in the US. According to recent data, for the first time in a month and a half, there is an increase in Bitcoin reserves on centralized exchanges, which may indicate rising volatility or traders’ desire to lock in profits.
This is reported by Finway
Changes in the Bitcoin Market and Miner Behavior
Experts at CryptoQuant note that miners have begun to actively reduce their Bitcoin reserves, reaching the lowest levels since mid-2025. This trend is explained by forced sales due to the cessation of energy subsidies and tax benefits, which were rolled back in connection with the budget crisis in the country.
“The budget crisis in the US has caused an increase in exchange Bitcoin reserves for the first time in a month and a half,” stated CryptoQuant.
Withdrawal of Stablecoins and Impact on the US Economy
Additionally, analysts are recording record rates of stablecoin withdrawals from exchanges. This may indicate a shift in investor sentiment, favoring more stable financial instruments tied to the US dollar to minimize risks amid market uncertainty.
According to estimates from the Congressional Budget Office, the current situation could negatively affect GDP growth dynamics in the fourth quarter of 2025, reducing it by 1-2%. Furthermore, the economy could lose between 7 to 14 billion dollars in activity.
CryptoQuant also noted that the fear and greed index has returned to the “extreme fear” zone, last seen during the liquidity crisis in banking in 2023.
Previously, analysts from the company emphasized that investors still do not believe in a recovery of the bullish trend, despite the increase in Bitcoin’s price.