$3.3B in BTC exits Binance over 2 weeks, signaling longer-term holding

A CryptoQuant analysis by contributor Darkfost found sustained large-scale net Bitcoin outflows from Binance, suggesting more assets may be moving off the exchange for longer-term holding. Darkfost said Binance’s BTC reserves fell from 704,800 BTC on Sept. 20 to 663,100 BTC recently. That implies more than 40,000 BTC, worth about $3.3 billion, moved off the exchange over roughly 15 days. Binance also recorded net outflows of 23,100 BTC last week, the largest weekly net outflow since June 2023, according to Darkfost. The analyst added exchange withdrawals can be associated with long-term holding or accumulation and may help support BTC prices alongside easing selling pressure.