Bitcoin Exchanges Shed 700K BTC in One Year
The withdrawal wave tightens immediately available supply and supports the accumulation thesis, though exchange outflows alone do not prove long-term holding.
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The withdrawal wave tightens immediately available supply and supports the accumulation thesis, though exchange outflows alone do not prove long-term holding.
XRP outflows are whale-dominated but Binance still absorbed 1.6B tokens over 30 days, while four fresh Hyperliquid wallets timed 40x BTC shorts to a drop that liquidated over $500M in longs.
The shift follows a deposit run lasting more than three months, twice as long as any other since 2023.
Exchange outflows and gains despite heavy selling support the squeeze thesis, but a sustained break below $1.48 would weaken it.
The multi-exchange withdrawal puts a $5.13M ENA balance outside immediate exchange liquidity, though wallet movement alone does not confirm a long-term hold.
A withdrawal of this size puts exchange-held ETH liquidity and institutional wallet activity back in focus, while its market impact depends on whether the coins stay off exchanges.
The listed withdrawals total 32,293 ZEC, pointing to concentrated accumulation and less immediately available exchange inventory, though wallet movements alone do not confirm long-term holding.
The key signal is exchange supply: sustained withdrawals would strengthen the case for tighter liquid ETH supply, while one wallet move remains an early indicator.
A four-month, $285M streak of US spot XRP ETF inflows meets a supply side where whale deposits to Binance have collapsed 96% from a January peak, the cleanest demand-meets-withheld-supply setup XRP…
Five straight sessions of net ETF inflows totaling $727M have eased selling pressure, yet stablecoin flows remain negative and a renewed oil shock could tighten the liquidity backdrop the rally still…
A sustained daily close above the 100-day EMA is the gatekeeper; crack it on volume and $2,000 comes back into view, with the 200-day EMA near $2,180 sitting roughly 16% above spot.
The fresh $22.88M draw brings Abraxas's week-long haul to 45,996 ETH ($84.39M), a steady withdrawal cadence from Binance, Bybit, and Bitfinex that signals accumulation, not rotation.
BTC reclaimed its late-June losses over the weekend, but the Fear & Greed Index sitting at 24 shows the bounce hasn't shaken broader caution yet, even as Binance ETH withdrawals hit a three-year high.
The exchange kept withdrawals open for roughly 2 million French users but stopped spot and margin. $1.6B in net outflows over the past month shows where the retail book already went.
Small-wallet inflows collapsed to 329 BTC a day on Binance, against 3,700 BTC a day in 2018, suggesting the retail side of the largest venue is quieter than at any point in its history.