Bitcoin Falls as Binance Net Outflows Reach $3.64 Billion

Bitcoin was at $76,878 at 2:14 p.m. ET Monday (7:14 p.m. UTC); Binance had $3.64 billion in net outflows and U.S. spot Bitcoin ETFs had $643 million in Friday outflows.

Binance logged $4.65 billion in customer withdrawals against $1.01 billion in deposits over the opening nine and a half hours after withdrawals resumed Nov. 1. The net outflow equaled about 2.1% of the exchange’s stated $171 billion in assets. Withdrawal activity eased after an initial surge, while deposits remained substantial.

U.S. spot Bitcoin ETFs had $643 million in outflows Friday, their largest single-day withdrawal in October. Derivatives activity also increased, but open interest did not climb at a similar pace. Liquidations rose as leveraged positions closed.

The flow figures cover separate periods: Friday for the ETFs and the first nine and a half hours of resumed Binance withdrawals Sunday. Traders are also watching Tuesday’s U.S. midterm elections and an employment report due Nov. 6.