Binance Sees Largest Net Outflow Since November 2024

The Bitcoin (BTC) market is showing signs of recovery after Binance saw its largest net outflow in nearly two years, with over 9,000 BTC withdrawn from the exchange in a single day. According to CryptoQuant, this large withdrawal reflects a decrease in short-term supply pressure on Binance.

CryptoQuant's analysis shows that despite the sideways price action, Bitcoin buyers are showing 'better absorption' at $65,000, indicating an improvement in seller absorption.

Institutional appetite for BTC remains strong, with net positive ETF inflows continuing to support the market. However, experts caution that exchange flows do not necessarily indicate a new uptrend, and that spot demand is still lacking.