Key Highlights
- Binance recorded over 13,800 BTC in daily outflows, its biggest since 2023, while reserves fell by about 20,000 BTC in four days.
- CryptoQuant’s Darkfrost linked the withdrawals to possible FOMO, saying investors who expected Bitcoin to fall may now be rushing into the market.
- Bitcoin remains near $84,000 after reaching $87,000, while U.S. spot Bitcoin ETFs recorded their sixth straight day of inflows.
Binance has recorded its biggest daily Bitcoin outflow since 2023, with more than 13,800 BTC leaving the exchange on September 25 as Bitcoin continued its recovery.
In a report, CryptoQuant analyst Darkfrost linked the sudden withdrawals to possible FOMO, saying some investors may now be rushing in after expecting Bitcoin to fall further.
This new data shows that Binance’s seven-day average netflow has fallen to about -2,000 BTC, meaning more Bitcoin is leaving the exchange than entering it. Binance’s Bitcoin reserves also dropped from around 705,000 BTC to 685,000 BTC in four days, a fall of about 20,000 BTC.
Darkfrost said Binance holds around 30% of the Bitcoin available across exchanges used by different types of investors. That makes the large movement from the platform notable as Bitcoin continues to trade at higher levels.
“Such a sudden development suggests a wave of FOMO among latecomer investors, particularly those who were expecting Bitcoin to drop further,” Darkfrost said.
FOMO may be driving late investors
FOMO, or fear of missing out, happens when investors see an asset rising and decide to enter because they do not want to miss a possible further rise. In this case, Darkfrost believes some investors who waited for another Bitcoin drop may now be moving into the market as prices recover.
Bitcoin was trading around $84,300 when the latest data was recorded. The Crypto Times earlier today reported that the cryptocurrency had recently climbed toward $87,000, while Darkfrost said Bitcoin had gained roughly 45% from its July high.
This surge has also pushed Bitcoin above an important price level. Darkfrost said BTC had closed above its May high of around $82,000 for several days in a row, which he viewed as a change in the market structure.
The Binance outflows are also happening alongside other signs of buying activity. Santiment recently reported that wallets holding between 100 and 1,000 BTC accumulated about 113,950 BTC between July 15 and September 24, taking their combined holdings to roughly 5.24 million BTC.
Whales continue to accumulate Bitcoin
U.S. spot Bitcoin ETFs also recorded $190.7 million in net inflows on September 24, marking their six straight sessions of positive inflows, according to data from Farside Investor.
However, ETF demand had been much weaker earlier in September, when Bitcoin funds recorded only $6.1 million in net inflows between September 14 and 18.
The funds recorded $159.5 million on September 17, $433 million on September 18, and $999 million on September 21. The funds also brought in around $714.7 million on September 22 with $346.9 million on September 23.
Moreover, Binance’s current flow is different from what was seen earlier this year. In May, Darkfrost reported that the exchange’s weekly average Bitcoin inflow rose from 378 BTC to 1,190 BTC in less than 10 days.
Binance flows reverse from earlier trend
The recent withdrawals may mean fewer Bitcoin are immediately available for trading on Binance.
Darkfrost said some investors may be choosing to keep their Bitcoin themselves instead of leaving the coins on an exchange, a move often linked with longer-term holding.
However, an exchange outflow does not always mean that Bitcoin has been bought for long-term holding. Coins can be moved to private wallets, another exchange, or institutional custody. The data shows that Bitcoin has moved away from Binance, but it does not explain the reason behind every transfer.
Earlier in 2026, Bitcoin held on major exchanges also fell sharply. By May 7, nearly 100,000 BTC had left Binance, OKX and Gemini reserves since February, with Binance accounting for about 50,000 BTC of the decline.
For now, Binance is seeing heavy Bitcoin withdrawals while BTC trades near $84,000. If the outflows continue, the amount of Bitcoin sitting on the exchange could fall further. A return of large deposits, however, could change that direction.
Also Read: Sequans Exits Bitcoin Treasury 15 Months After Setting 100,000 BTC Goal
