Insights

Binance experiences minor Bitcoin outflows despite SEC lawsuit fears

exchange68September 13, 2024

0 1 1 minute read

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.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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