Binance Experiences Significant Bitcoin Outflows Amid Steady Prices
- On September 22, over 13,800 BTC left Binance, marking the largest daily net outflow since early this year.
- Binance’s bitcoin reserves decreased by approximately 20,000 BTC in four days, reducing from about 705,000 BTC to 685,000 BTC.
- Bitcoin’s price remains stable between $83,000 and $84,000 despite the significant outflows.
- The reduction in exchange balances is seen as a potential decrease in selling pressure if demand persists.
Recent data shows that significant amounts of Bitcoin are leaving Binance at unprecedented rates for this year, which may indicate a shift towards self-custody or long-term holding by investors. Despite these outflows, Bitcoin prices have remained relatively stable above $83K.
This trend of decreasing exchange reserves could create a tighter supply scenario if demand remains strong, potentially supporting future price increases toward $90K if current conditions persist. (Source )
