Binance experiences minor Bitcoin outflows despite SEC lawsuit fears

2023-6-8 20:23

Quick Take Bitcoin outflows on June 7 from Binance seem rather small compared to previous capitulations.  Roughly 12,000 Bitcoin have left Binance on June 7. In the past year, especially during the FTX collapse, Binance saw 40,000 Bitcoin level the exchange in one day. It suggests investors are not fazed by the SEC lawsuit on the potential of freezing of assets.  However, the main talking point of today is the price action of BNB, which is down 8% on June 7. Netflow: (Source: Glassnode) BNBUSD:(Source: TV)

The post Binance experiences minor Bitcoin outflows despite SEC lawsuit fears appeared first on CryptoSlate.

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Over the past 24 hours, two newly-created Bitcoin addresses withdrew a total of 2,273 BTC (valued at around $59 million) from cryptocurrency exchange Binance. These large withdrawals, identified by on-chain analyst Lookonchain, have sparked speculation among crypto market observers about potential increased institutional or whale buying at current Bitcoin price levels.

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