Bitcoin Accumulation Surges as $3.3 Billion Exits Binance

Despite persistent rumors of a potential Bitcoin crash, data shared on X by analyst Darkfost suggests that Bitcoin accumulation is gaining momentum. Over the past 15 days, Binance reserves have dropped by nearly 40,000 BTC, valued at approximately $3.3 billion, while Bitcoin continues to trade around $85,000.

Exchange outflows have hit levels not seen in years. The latest incomplete daily reading recorded nearly 14,300 BTC leaving Binance, surpassing the previous week's outflow of 13,800 BTC. The weekly figures are even more notable, with 23,100 BTC exiting Binance last week, marking the strongest weekly net outflows since June 2023, equivalent to about $1.4 billion in accumulation.

Binance's reserves have decreased from 704,800 BTC on September 20 to 663,100 BTC, indicating a significant reduction in exchange-held supply within a short period. Analysts interpret this as a potential sign of long-term holding behavior, as BTC leaving exchanges often suggests accumulation.

The current outflow pattern mirrors a period in 2023 when Bitcoin was recovering from a bear market. However, analysts caution that past trends do not guarantee future performance. While reduced exchange-held supply and continued withdrawals could support a price breakout, outflows alone do not confirm an upward trajectory.