Bitcoin sees largest single‑day net outflow from Binance in three years

Bitcoin’s price continued its rally above $84,000 while the exchange Binance recorded its biggest single‑day net outflow of Bitcoin since 2023. CryptoQuant analyst Darkfrost reported that more than 13,800 BTC were withdrawn from Binance on September 25, marking the exchange’s largest net outflow day in three years.

Scale of the outflow

Over a four‑day period Binance’s Bitcoin reserves fell from roughly 705,000 BTC to 685,000 BTC, a reduction of about 20,000 BTC. The seven‑day average net flow turned negative, slipping to around –2,000 BTC, while the single‑day outflow of 13,800 BTC stands out as the most significant since the previous year.

Context within the market

Binance holds approximately 30% of Bitcoin available across exchanges. The recent withdrawals contrast with earlier in the year when Binance saw net inflows, including a daily inflow of more than 3,600 BTC on May 18. At that time, reserves on the exchange were rising, coinciding with increased selling pressure on Bitcoin.

Possible reasons for the withdrawals

Darkfrost suggested that the outflows indicate a shift toward longer‑term holding, as investors move Bitcoin off‑exchange. However, net‑flow data cannot reveal the ultimate destination of the coins; they may be transferred to private custody, other platforms, or institutional arrangements.

Implications for Bitcoin supply

Reduced balances on Binance lower the amount of Bitcoin immediately available for trading on that venue, potentially easing short‑term selling pressure. Yet, if the withdrawn coins later return to exchanges, the effect could be temporary.

Broader market activity

During the same period, U.S. spot Bitcoin ETFs recorded $346.98 million in net inflows, marking five consecutive positive sessions. By contrast, Ether funds lost roughly $140.6 million over the same week.

Outlook

If Bitcoin continues its upward trajectory, further withdrawals from Binance could occur as more investors choose to hold the asset off‑exchange. Continued negative net flows would keep exchange supply constrained, while a reversal to net inflows would replenish it.