Another interesting on-chain signal is flashing for Bitcoin as more than 9,000 BTC left Binance in a single day. At the same time, the exchange’s 30-day momentum indicator continues recovering from deeply negative territory.
The strong accumulation comes as Bitcoin continues to hold above $66,000. While momentum has dwindled following an earlier rally to nearly $67,000 on Tuesday, BTC has continued to hold above $66,000, possibly consolidating for the next move.
Binance Sees Biggest Bitcoin Withdrawal Since February
Data from CryptoQuant shows that 9,030 BTC, worth approximately $589 million, left Binance in one day, marking the exchange’s largest daily Bitcoin outflow since February.
Large exchange withdrawals often suggest that holders are moving their assets into self-custody rather than keeping them readily available for sale.
The 9,030 BTC withdrawal represents the largest single-day Bitcoin outflow from Binance in five months. When withdrawals reach this scale, they typically involve large holders moving substantial amounts of Bitcoin off exchanges. It suggests that whales are accumulating the coin at a pace last seen in several months.
Coins held in self-custody are generally less accessible for immediate selling activity on exchange order books. While exchange outflows alone do not guarantee future price movements, they often provide valuable context when combined with other on-chain and technical indicators.
This latest outflow arrives at a time when Bitcoin’s momentum is attempting to confirm its recovery, making the combination of signals particularly interesting.
Bitcoin Momentum Has Recovered From Deeply Negative Levels
In late June, Bitcoin’s 30-day momentum metric had fallen to around -21%, reflecting a period of significant weakness. Since then, the indicator has steadily recovered and recently moved back above the zero line.
Although momentum has been fluctuating around zero over the past two weeks, its broader recovery trend closely resembles previous setups that preceded notable upside moves.
For context, a similar pattern emerged in October 2025, January 2026, and April 2026. In each case, Bitcoin’s momentum recovered from deeply negative readings, crossed into positive territory, and what followed were higher prices in the weeks that followed. The current recovery is beginning to mirror those historical examples.
This suggests that Bitcoin could recover higher, with the $70,000 resistance the next area of interest.
Evans Kelvin
