Binance bitcoin outflows reach highest level since mid-2023

Binance saw its bitcoin reserves fall by nearly 40,000 BTC since Sept. 20, according to CryptoQuant data cited in the report. The exchange recorded net outflows of 23,137 BTC in the seven days through Sept. 27, the largest weekly outflow since June 2023. The analysis suggests the withdrawals may reflect longerterm accumulation, since moving bitcoin off an exchange is often associated with holding rather than immediate trading. CryptoQuant also noted that these conditions have previously coincided with stronger price action, though it did not present any outcome as certain. At the same time, large holders have been sending more stablecoins to Binance. CryptoQuant said whale stablecoin inflows rose 40% from midAugust to the end of September, increasing from $21.7 billion to $30.5 billion on a rolling 30day basis. Bitcoin has traded in a narrow range between about $82,500 and $87,400 since Sept. 21, with exchange liquidity and the 2026 yearly open near $87,570 acting as resistance, according to the article.