Binance BTC outflows hit highest since mid-2023 as whales deposit stablecoins
Summary
CryptoQuant data shows Binance recorded 23,137 BTC in net outflows in the seven days through Sept. 27, its largest weekly outflow since June 2023. Its reserves have fallen by nearly 40,000 BTC since Sept. 20. The analytics firm interprets withdrawals as possible long-term accumulation that, alongside fewer sellers, could help Bitcoin break out of its recent $82,500–$87,400 trading range. Separately, large-volume entities increased rolling 30-day stablecoin inflows to Binance by 40% from Aug. 15 through September’s end, rising from $21.7 billion to $30.5 billion. The data suggests more capital may be positioned for deployment, though it does not confirm future buying or a price breakout.
