Binance Sees Record Outflow as Bitcoin Price Drops Below $83K

Bitcoin's price has dropped below $83,000, but despite this decline, investors are moving large amounts of BTC away from Binance, the world's largest crypto exchange. According to CryptoQuant analyst Darkfost, over 13,800 BTC worth around $1.16 billion left Binance in a single day, marking its biggest daily outflow since 2023.

This move comes as Bitcoin dropped 2.73% to around $82,674, with the total crypto market cap also declining by 2.58%. The sell-off was fueled by geopolitical tensions and a leverage flush, with Bitcoin liquidations reaching $90.07 million.

Despite the short-term pressure, analysts believe that holding above the current level could support another move higher, with the pattern pointing toward a $100,000 target. However, if the $82,000 level fails, the next major support sits at $79,688, near the 61.8% Fibonacci level.