Binance Sees Massive $1.15 Billion BTC Exit as Price Holds Above $83K
Binance, one of the world's largest crypto trading venues, has experienced a significant outflow of Bitcoin in recent days. According to Cryptoquant data, more than 13,800 BTC, approximately $1.15 billion at current prices, flowed out of the exchange on September 22.
This marks Binance's largest daily net Bitcoin outflow since 2023, and represents a notable shift for an exchange that is estimated to hold around 30% of available Bitcoin across investor-accessible exchanges.
The move was followed by a broader decline in reserves. Binance's Bitcoin holdings fell from around 705,000 BTC to 685,000 BTC in four days, a reduction of roughly 20,000 coins ($1.66 billion worth).
Pseudonymous on-chain analyst Darkfrost views the withdrawals as part of a broader accumulation trend rather than an isolated transfer event.