[BTC Exchange Inflows Surge to 114,000 Coins, Stablecoin Outflows Weaken Buying Pressure] CryptoQuant analyst Axel Adler stated that BTC is flowing into exchanges in large quantities, while stablecoin liquidity continues to flow out, worsening both supply and demand in the market. The 30-day net exchange flow metric for BTC is approximately +114,000 BTC, compared to the net outflow of around -85,000 to -115,000 BTC in early May, indicating that the market has shifted from an accumulation phase to a distribution phase. This metric rose to approximately +167,000 BTC in early June. The 30-day moving average net flow of stablecoins is approximately -$105 million, whereas in early May, this metric ranged between +$40 million and +$90 million, expanding to around -$150 million to -$170 million in early June.