Exchanges Dump $2.5B of BTC as ETFs Continue Inflows

Bitcoin exchanges experienced significant outflows in the range of $2.52 billion across four major platforms from September 22-24, while Bitcoin exchange-traded funds (ETFs) continued to attract investments.

The combined net outflows occurred on Binance, Coinbase, Kraken, and Bitfinex, with the highest amount recorded on September 22 at $1.57 billion. Binance alone accounted for $1.19 billion of this total.

However, Bitcoin ETFs recorded inflows of $714.7 million on September 22, followed by $346.9 million and $190.6 million on September 23 and 24, respectively.

This trend coincided with a decline in the price of Bitcoin to around $85,000 during the period. Open interest also rose above $31 billion on September 22 before declining to $28.58 billion at the time of the market update.