{
  "id": 12354067,
  "title": "Binance BTC outflows hit highest since mid-2023 as whales deposit stablecoins",
  "url": "https://urgent.news/2026/10/06/binance-btc-outflows-hit-highest-since-mid-2023-as-whales-deposit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T09:59:12.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/markets/binance-btc-outflows-hit-highest-since-mid-2023-as-whales-deposit-stablecoins"
  },
  "original_language": "en",
  "account": "Binance's reserves of Bitcoin (BTC) dropped by nearly 40,000 coins since September 20 as large investors, or \"whales,\" returned stablecoins to their exchange wallets. According to onchain analytics platform CryptoQuant, Binance experienced its largest net outflow of BTC since June 2023 in the seven days leading up to September 27, with a total of 23,137 BTC leaving the exchange. This outflow surpassed the previous record of 44,942 BTC, which occurred in the same week in mid-2023.\n\nWhile the recent outflows have slowed compared to the previous week, CryptoQuant believes similar conditions may be driving the current withdrawal activity. \"The more BTC leaves a widely accessible platform like Binance, the stronger the signal that accumulation is taking place,\" the blog post notes. In June 2023, a similar pattern of BTC withdrawals helped push Bitcoin's price from $26,300 to $30,500, achieving a 12-month high during the recovery from the 2022 bear market.\n\nCryptoQuant points to the decrease in Binance's BTC reserves, which have dropped by nearly 40,000 coins since September 20, along with fading sellers, as a positive signal for Bitcoin's potential breakout from its current consolidation phase. Currently, Bitcoin has traded between $82,500 and $87,400 since September 21, with the yearly resistance level at $87,570 still in place.\n\nAdditionally, there has been a notable increase in stablecoin supply on exchanges, which serves as \"dry powder\" for potential deployment into cryptocurrency assets. Between August 15 and the end of September, Binance received a 40% increase in whale entities' stablecoin inflows, rising from $21.7 billion to $30.5 billion. This surge in stablecoin deposits comes after a period of relative inactivity, when inflows peaked in October 2025 at more than $61 billion.",
  "summary": "Binance BTC reserves fell by nearly 40,000 coins since Sept. 20 as whales returned stablecoin capital to their exchange wallets.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}