Bitcoin Sees $2.5B Exodus from Exchanges as Bulls Bet on Rally to $90K

Over the past three days, centralized exchanges saw massive Bitcoin withdrawals totaling $2.52 billion. This exodus was led by Binance's $1.19 billion in outflows on September 22, followed by significant withdrawals from Coinbase ($286 million), Kraken ($55 million), and Bitfinex ($43 million). These large exits have triggered renewed whale buying, reducing circulating supply and creating a bullish crypto backdrop.

The influx of $2.8 billion in spot Bitcoin ETF inflows over six days has also contributed to the positive sentiment. This brings year-to-date net flows to $787 million after an initial negative run earlier this year. On-chain analysts believe that sustained CEX withdrawals combined with renewed whale buying and ETF inflows could fuel a rally towards $90,000.

Traders are betting on a short-term rebound, fueled by new projections and positive regulatory changes in Russia and other jurisdictions. With Bitcoin currently trading under $84,000, bulls are flagging these 48-hour numbers as an indicator of a potential recovery, setting the stage for an overall rally.