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Binance outflows top 9,000 BTC as analysts flag improving exchange supply
CryptoQuant data shows Binance logged its largest single-day net BTC outflow in nearly two years, while US spot Bitcoin ETFs have seen positive inflows.
Binance recorded multimonth records for net Bitcoin outflows on Tuesday, with daily withdrawals outpacing inflows, according to onchain analytics data cited by Cointelegraph. The outlet said this follows a trend of positive inflows to US spot Bitcoin ETFs.
The reported analysis points to “better absorption” around the $65,000 area as buyers take BTC with less exchange selling pressure. CryptoQuant contributor Rei Researcher said the size of withdrawals can indicate supply pressure easing on Binance, and that coins moving off exchanges are less likely to be sold into the order book.
Cointelegraph highlighted that Tuesday’s net outflow exceeded 9,000 BTC, the largest single-day tally since November 2024. Another CryptoQuant contributor, Ruga Research, said large outflows often reflect moving “serious volume” into self-custody, while also noting the pattern can reverse and momentum has been mixed.
While the data showed negative netflows alongside a BTC recovery to roughly $65,000 to $66,000, Rei Researcher cautioned against calling it a guaranteed trend change. He said the notable point is improved absorption compared with a prior weak phase, even as netflows have been fluctuating around the zero line.
Latest closeBitcoin $65,652.00 ▼1.3%