Binance Sees Largest Daily BTC Outflow in Nearly Two Years

Bitcoin exchange outflows are making headlines after Binance saw its largest net outflow in nearly two years. The world's biggest exchange reported a daily withdrawal of over 9,000 BTC, which is a significant amount considering the current market conditions.

CryptoQuant data shows that this recent outflow may indicate easing short-term supply pressure on Binance, as BTC is not being sent to the exchange aggressively for potential selling. This could be a sign that investors are taking their coins off exchanges and moving them into self-custody.

However, experts caution against reading too much into these numbers. Rei Researcher notes that negative net flow does not automatically confirm a new uptrend in Bitcoin's price, but rather suggests better absorption of the asset at current levels around $65,000 to $66,000.