According to new data, at the end of September the outflow of Bitcoin (BTC) from the largest cryptocurrency exchange Binance reached multi-year record levels. Data from the blockchain analytics platform CryptoQuant shows that over the seven days through September 27, net outflows from Binance reached 23,137 BTC.
On a weekly basis, the total was the largest outflow from Binance since June 2023, when the BTC balance declined by 44,942 in a single week. Last month the amount was only half of the original, but CryptoQuant believes similar conditions triggered both instances of withdrawals.
“The more BTC leaves a widely accessible platform such as Binance, the stronger the signal that accumulation is taking place. Withdrawing BTC from an exchange is long-term investment behavior, and therefore a positive signal,” the blog post says.
In June 2023, the BTC/USD rate rose from $26,300 to $30,500 on the weekly chart following the outflows from Binance, reaching new 12-month highs as part of the recovery from the 2022 bear market.
CryptoQuant continued, saying a similar accumulation trend is also reflected in the reduction of Binance reserves by nearly 40,000 BTC since September 20.
“Combined with weakening seller positions, this accumulation may prove sufficient to move Bitcoin out of its consolidation phase fairly quickly,” the post added.
The BTC/USD rate has fluctuated in a range between $82,500 and $87,400 since September 21. High liquidity levels on exchanges have dictated price movement on low timeframes during this period, with the 2026 annual futures open level at $87,570 still remaining resistance.
Separate data shows that large players actively using stablecoins have increased their supply on Binance over the past six weeks.
Stablecoin supply on exchanges is viewed as “raw material” awaiting placement into crypto assets, and growing balances point to growing interest in increasing capital investments.
According to CryptoQuant, between August 15 and the end of September, large investors increased 30-day stablecoin inflows to Binance by 40% — from $21.7 billion to $30.5 billion.
“This change in behavior came after a prolonged lull, during which inflows declined compared to the October peak, when they exceeded $61 billion,” the commentary says, referring to the current all-time highs of the cryptocurrency markets expected in October 2025.
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