June 12 BTCUSD BingX Chart Analysis and Today's Headline

On the 4-hour chart, BTC has entered a narrow range consolidation phase, with the current price holding above $25,000, indicating a phase of accumulation. The MACD indicator shows consecutive shrinking hollow bars, suggesting decreased selling pressure in the short term. Looking at the daily chart, the KDJ indicator displays a bearish crossover and is trending downward, while the MACD indicator shows consecutive increasing green solid bars, indicating a period of bearish momentum. BTC is currently in a phase of bearish volume expansion, with intense competition between bulls and bears around the strong support level at $25,000, which has been tested multiple times.

Today’s Cryptocurrency Headline

Bitcoin Reserves in the U.S. Crypto Exchanges Have Fallen to 2017 Levels

According to a research report by CryptoQuant, over 50% of Bitcoin has been transferred from US exchanges to overseas locations due to regulatory uncertainty. Bitcoin reserves in US crypto exchanges have dropped to levels last seen in 2017, while 56% of Ethereum is held by entities outside the US. Meanwhile, regions such as the European Union and Hong Kong are witnessing an influx of capital, talent, and digital asset companies. Furthermore, international cryptocurrency exchanges have four times the trading volume of US exchanges.

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