Amr Taha
Bitcoin Sees $2.52B in Negative Netflows Across Major Exchanges in Three Days
Bitcoin recorded a third straight day of broad negative exchange netflows from September 22 to 24, with 3–4 major venues showing net outflows on each day. On September 22, Binance recorded -$1.19 billion, Coinbase -$286 million, Kraken -$55 million and Bitfinex -$43 million, for a combined netflow of about -$1.574 billion. On September 23, Binance posted -$178 million, Coinbase -$175 million, Bitfinex -$50 million and Kraken -$35 million, bringing that day’s combined netflow to roughly -$438 million. The pattern continued on September 24, when Binance recorded -$370 million, Bitfinex -$88 million and Coinbase -$53 million, for a combined -$511 million. bringing the three-day total across the reported exchanges to about -$2.52 billion. The breadth matters because the move was not limited to Binance. Coinbase, Kraken and Bitfinex also showed negative readings across the period, pointing to a multi-exchange withdrawal pattern rather than a single-venue event. The outflows also persisted as Bitcoin retreated from roughly $87,400 toward $84,000, creating a price-flow divergence: BTC weakened while coins continued to leave major exchanges. Negative exchange netflows do not guarantee a bullish outcome, but sustained withdrawals across multiple venues can indicate reduced immediate exchange-side supply.