Binance had a net outflow of over 13,800 bitcoins in a single day, the largest since 2023

The cryptocurrency exchange platform Binance has seen a net outflow of over 13,800 Bitcoins, setting a record for the largest single-day net outflow since 2023. Based on the price at that time, the related assets are valued at approximately 1.15 billion dollars. Binance's Bitcoin reserves decreased from about 705,000 to approximately 685,000 within four days, a reduction of about 20,000, valued at around 1.66 billion dollars.

On-chain analyst Darkfrost stated that the outflow of Bitcoins from Binance is part of a broader accumulation trend, with some investors choosing to self-custody their Bitcoins. The related outflows may also be associated with institutional custody, internal wallet management, and other operational arrangements, and should not be viewed solely as evidence of accumulation behavior. After a recent rise, Bitcoin has retraced and is currently maintaining a range between 83,000 and 84,000 dollars, staying above 83,000 dollars. Market participants are paying attention to whether this price level can continue to receive support, as well as whether the outflow of Bitcoins from Binance and the decline in exchange reserves will continue.