Analysis: Binance sees largest single-day net BTC outflow since 2023, potentially reducing potential selling pressure.

BlockBeats news, September 25 — CryptoQuant analyst Darkfost posted that Bitcoin has recently entered an upward phase different from previous rebounds. Since its July high, BTC has cumulatively risen about 45%, with this rally breaking through important structural levels and closing above $82,000 for several consecutive days. Darkfost stated that during this upward move, BTC's accumulation trend has continued, which is particularly evident in exchange BTC fund flows.

Binance currently holds about 30% of BTC among exchanges accessible to all types of investors, and net BTC outflows have recently remained dominant, averaging about 2,000 BTC in daily net outflows over the past week. At the same time, Binance recently recorded its largest single-day net BTC outflow since 2023, with more than 13,800 BTC flowing out in a single day, a new high in nearly three years. Over the past 4 days, Binance's BTC reserves fell from 705,000 to 685,000, a decrease of about 20,000 BTC.

Darkfost stated that when BTC continues to flow out from exchanges, it means some investors are choosing to hold BTC themselves, behavior that is usually associated with long-term holding. From a market mechanism perspective, a decline in exchange BTC balances also reduces potential selling pressure. Darkfost further pointed out that such a sudden large-scale capital outflow may indicate that investors who previously expected Bitcoin to continue falling as during past bear markets are beginning to show FOMO sentiment and re-enter after the price rise. As Bitcoin continues to rise, similar large-scale capital flows may appear again.