TechFlow news: 10x Research stated that Bitcoin is currently facing challenges in breaking its all-time high, primarily due to the Bitcoin halving event on April 20, which has slowed down stablecoin issuance and led to a decline in the number of wallets holding over $10 million in stablecoins. This trend is currently hindering Bitcoin from surpassing its previous peak.
Meanwhile, over the past month, $6.75 billion worth of Bitcoin has been withdrawn from exchanges, primarily driven by U.S.-based exchanges Kraken and Coinbase. Additionally, $1.9 billion worth of Ethereum has also been withdrawn from exchanges. Overall, demand for Ethereum has slowed across various aspects.
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