Binance recorded a net outflow of more than 13,800 BTC on Sept. 22, marking its largest single-day Bitcoin net outflow since 2023, according to an Odaily report citing Bitcoin.com News. At prices at the time, the withdrawn assets were valued at roughly $1.15 billion. Over the past four days, Binance’s Bitcoin reserves fell from about 705,000 BTC to around 685,000 BTC, a drop of roughly 20,000 BTC worth about $1.66 billion. On-chain analyst Darkfrost said the movement fits into a broader accumulation trend, with some investors choosing to move Bitcoin into self-custody. He also cautioned that exchange outflows alone should not be treated as conclusive evidence of accumulation, since the transfers may also be tied to institutional custody arrangements, internal wallet management, or other operational factors. Bitcoin has pulled back after a recent rally and is now trading in the $83,000 to $84,000 range while staying above $83,000. Market participants are watching whether that level can continue to hold and whether Binance’s Bitcoin outflows and the decline in exchange reserves will continue.
Binance saw a net outflow of more than 13,800 BTC on Sept. 22, the largest single-day net Bitcoin outflow for the exchange since 2023, according to Odaily, citing Bitcoin.com News. Based on prices at the time, the assets were worth about $1.15 billion.
Over a four-day period, Binance’s Bitcoin reserves fell from roughly 705,000 BTC to around 685,000 BTC. That marks a decline of about 20,000 BTC, or approximately $1.66 billion.
On-chain analyst Darkfrost said the Bitcoin leaving Binance appears to be part of a broader accumulation trend, with some investors opting for self-custody. At the same time, he said the outflows could also be related to institutional custody, internal wallet management, and other operational arrangements, so they should not be viewed on their own as proof of accumulation.
Bitcoin has pulled back after a recent rise and is now holding in the $83,000 to $84,000 range, remaining above $83,000. Market participants are watching whether that level can keep acting as support and whether Binance’s Bitcoin outflows and the drop in exchange reserves will continue.
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