Binance Sees Record-Breaking Bitcoin Exits Amid Stable Prices
Binance, one of the world's largest crypto trading venues, witnessed an unprecedented exodus of 13,800 BTC on September 22. This represents the exchange's biggest daily net outflow since 2023, according to Cryptoquant data.
The massive withdrawal was followed by a decline in reserves, with Binance's bitcoin holdings falling from approximately 705,000 BTC to around 685,000 BTC over four days. This reduction accounts for roughly 20,000 coins, or about $1.66 billion at current prices.
The significant drop in exchange balances has sparked interest among analysts, who point out that large withdrawals often indicate investors moving bitcoin into self-custody or longer-term storage. However, this can also reduce potential selling pressure if demand holds up.