Recent research reveals that Bitcoin (BTC) withdrawals from top cryptocurrency platform Binance reached multiyear peaks during the closing days of September.
Key points:
- Net Bitcoin withdrawals from Binance exceeded 23,000 BTC during the fourth week of September, marking a more than three-year high.
- Consequently, research from CryptoQuant indicates stronger prospects for the BTC/USD pair to break out of its present trading channel.
- Since the middle of August, large whale accounts have boosted stablecoin deposits onto Binance by 40%.
Binance Bitcoin reserves fall by nearly 40,000 BTC since Sept. 20
Figures provided by onchain data platform CryptoQuant demonstrate that throughout the seven-day period ending September 27, net outflows from Binance totaled 23,137 BTC.
On a week-over-week basis, this figure represented the platform’s heaviest outflow volume since June 2023, a time when its Bitcoin holdings dropped by 44,942 coins in a single week. Although last month recorded roughly half that figure, CryptoQuant notes that comparable market dynamics triggered both withdrawal waves.
The organization stated in an online article, “The more BTC leaves a widely accessible platform like Binance, the stronger the signal that accumulation is taking place. Withdrawing BTC from an exchange is a longer-term investment behavior, and therefore a positive signal,” wrote.
Binance BTC daily, weekly netflows data. Source: CryptoQuant
During June 2023, the BTC/USD exchange rate moved from $26,300 to $30,500 over the course of the weekly candle that followed those Binance withdrawals, establishing new 12-month peaks as part of its recovery from the bear market of 2022.
CryptoQuant further noted that a parallel accumulation trend is visible in the reduction of Binance reserves by close to 40,000 BTC since September 20.
The report added, “Combined with fading sellers, this accumulation could be enough to push Bitcoin out of this consolidation phase fairly quickly.”
Starting from September 21, the BTC/USD instrument has fluctuated inside a corridor between $82,500 and $87,400. As previously covered by Cointelegraph, walls of liquidity on exchanges have guided short-term price fluctuations during that interval, while the 2026 yearly open at $87,570 remains positioned overhead as an obstacle.
Binance whales line up stablecoin capital
Additional numbers indicate that high-volume whale addresses have expanded the transfer of stablecoins into Binance across the past six weeks.
Related: Bitcoin price fails to break higher after best weekly close in eight months
Stablecoin inventories on trading venues function as readily available funds awaiting deployment into digital assets, with climbing balances signaling heightened intent to allocate more funds.
CryptoQuant highlights that from August 15 through the conclusion of September, major whale investors expanded their trailing 30-day stablecoin deposits onto Binance by 40%, moving from $21.7 billion up to $30.5 billion.
Commenting on the shift, the analysis stated, “This change in behavior comes after a long lull, during which their inflows receded from the October peak, when they exceeded $61B,” referencing the all-time high valuation levels reached by crypto markets in October 2025.
Bitcoin whale stablecoin inflows to Binance (screenshot). Source: CryptoQuant
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Originally published at https://cointelegraph.com/markets/binance-btc-outflows-hit-highest-since-mid-2023-as-whales-deposit-stablecoins?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
