On-chain analysis shows that in late September, the outflow of Bitcoin ( BTC ) from Binance, the world's largest cryptocurrency exchange, reached a multi-year high.
Key points:
- In the fourth week of September, Binance saw a net outflow of over 23,000 BTC bitcoins, reaching the highest level in over three years.
- CryptoQuant believes that this increases the possibility of BTC / USD breaking through the current range.
- Since mid-August, the scale of stablecoins transferred by whales to Binance has increased by 40%.
Since September 20, Binance's Bitcoin reserves have decreased by nearly 40,000 coins BTC
Data from the on-chain analysis platform CryptoQuant shows that within a seven-day period ending September 27th, Binance experienced a net outflow of 23,137 BTC.
Calculated on a weekly basis, this is the largest outflow of Bitcoin from Binance since June 2023; at that time, its BTC balance decreased by 44,942 coins within a week. Although the outflow last month was only half of that amount, CryptoQuant believes that the conditions during both withdrawal surges were similar.
In a blog post, CryptoQuant wrote: 'As more and more BTC leave widely used platforms like Binance, it indicates that an accumulation is taking place in the market, and this signal will become even stronger. Withdrawing BTC from exchanges is a longer-term investment behavior, therefore it is a positive sign.'
CryptoQuant indicates that in June 2023, during the week following a large outflow from Binance, BTC / USD rose from $26,300 to $30,500, setting a new high on the weekly chart and becoming part of its recovery process during the bear market since 2022.
CryptoQuant further points out that a similar accumulation pattern is also reflected in the fact that Binance Reserves have decreased by nearly 40,000 BTC since September 20.
The institution added, "Combined with the weakening of the sellers' momentum, this accumulation could be sufficient to propel Bitcoin to quickly emerge from the current consolidation phase."
Since September 21st, BTC / USD has been fluctuating between $82,500 and $87,400. Cointelegraph previously reported that during this period, the exchange's liquidity barrier dominated the price movements in the shorter time frames, while the opening price of $87,570 in 2026 still constitutes resistance above.
Binance Whales Reconfigure Stablecoin Funds
Another set of data shows that in the past six weeks, large whale entities have increased the scale of stablecoins transferred to Binance.
The supply of stablecoins within exchanges is often seen as the "dry gunpowder" waiting to be combined with crypto assets. An increase in their balance indicates that there is a growing interest in the market to increase capital exposure.
CryptoQuant reports that from August 15th to the end of September, the scale of stablecoins transferred from whale entities to Binance over a 30-day period increased by 40%, rising from $21.7 billion to $30.5 billion.
A comment stated: "This change in behavior occurs after a long period of silence; during this time, their inflow has significantly declined from the high point in October, when that figure exceeded 61 billion US dollars." The institution refers to the current historical high reached by the crypto market in October 2025.
