Crypto
Binance Bitcoin Outflows Hit 3-Year High Amid Market Recovery
Binance's Bitcoin reserves dropped by around 20,000 BTC in four days to 685,000 BTC, down from 705,000 BTC.
The exchange processed more than 13,800 BTC in net outflows on September 25, the largest daily outflow since early 2023, according to CryptoQuant data.
This development adds another layer of complexity to the Bitcoin price dynamics, which have been gaining traction with a recent recovery. The price had gained roughly 45% from its July level and pushed BTC above the $82,000 level associated with the May high for several consecutive days.