Binance Sees Largest Daily Bitcoin Outflow Since 2023
Binance, one of the largest digital-asset exchanges in the world, has recorded its largest daily net outflow of Bitcoin since 2023. According to CryptoQuant contributor Darkfost, over 13,800 BTC left Binance on a net basis on September 25.
This marks the exchange's biggest daily net outflow of the token in nearly three years. The average net outflow over the past week has been around 2,000 BTC, resulting in Binance's Bitcoin holdings falling by approximately 20,000 coins to 685,000 from 705,000.
Darkfost interpreted this trend as a sign of investor accumulation and long-term holding. He explained that when investors move their Bitcoin off exchanges into personal wallets or other storage, the amount immediately available for sale in the market decreases, which could reduce potential selling pressure.