Binance Sees Largest Bitcoin Withdrawals in Years

Between September 20 and October 6, 2026, investors withdrew over 40,000 Bitcoin (BTC), valued at approximately $3.3 billion, from Binance. This withdrawal marked the fastest pace of outflows from the exchange since June 2023, reducing Binance's total Bitcoin reserves from 704,800 BTC to 663,100 BTC. The net weekly outflows peaked at 23,137 BTC during the last week of September, mirroring conditions seen in mid-2023 when Bitcoin surged from $26,300 to $30,500.

Analyst Darkfost at CryptoQuant noted that moving coins off trading platforms typically signals long-term investor accumulation. This trend is seen as building a solid foundation under Bitcoin, which has been consolidating around $85,000 as investors continue to withdraw BTC from exchanges. Market observers highlighted that transferring assets into private cold storage reduces immediate liquidity, thereby creating upward price momentum as selling pressure diminishes.

Data also revealed that crypto whales increased their 30-day rolling stablecoin deposits to Binance by 40 percent between August 15 and late September. This boosted the exchange's capital reserves from $21.7 billion to $30.5 billion. According to CryptoQuant, the combination of reduced selling pressure and accumulation could propel Bitcoin out of its current consolidation phase.

Despite the accumulation on exchanges, institutional investment showed some hesitation. U.S. spot Bitcoin ETFs reported a net daily outflow of about $90 million on October 5, 2026. BlackRock's IBIT was the only fund among twelve spot ETFs to register net inflows, while weekly net ETF inflows dropped 87.7 percent to $208.1 million. Meanwhile, Bitcoin traded near $86,000, maintaining a tight range between $82,500 and $87,500.