Binance’s Bitcoin reserves have risen above 693,000 BTC, reaching their highest level in two years and accounting for about 30% of reserves held across major exchanges. At the same time, U.S. spot Bitcoin ETFs recorded $283 million in net outflows on September 10, extending their withdrawal streak to three consecutive trading sessions.

Bitcoin traded near $77,000 on September 11 after failing to sustain its recent rebound above $80,000. The market is now testing an important weekly moving-average region, with the 50-week exponential moving average (EMA) near $77,400 and potential downside support around $72,000.

The combination of higher exchange balances and continued ETF redemptions does not confirm another major Bitcoin downturn. However, it places greater focus on whether BTC can stabilize near current levels. Higher exchange reserves can increase readily available sell-side liquidity, while persistent ETF outflows reduce one source of institutional demand.

Binance Bitcoin Reserves Rise Above 693,000 BTC

Binance now holds more than 693,000 BTC, according to CryptoQuant data shared by Darkfost. The balance represents approximately 30% of the Bitcoin reserves held across major exchanges. Binance’s reserves have increased by roughly 77,000 BTC since late April, following Bitcoin rallies in May and again in recent weeks.

The increase has placed more Bitcoin on the exchange as BTC trades near $77,000, down more than 4% over the past week. Investors often transfer coins to exchanges before selling, although exchange deposits can also serve other purposes. Darkfost also linked part of the increase to Binance’s SAFU fund plan, which intends to deploy $1 billion and acquire about 15,000 BTC.

Some holders moved Bitcoin to exchanges after the ColdCard incident as well. Those transfers may have reflected custody decisions rather than an immediate intention to sell. Nevertheless, the higher reserve balance expands the amount of BTC available on Binance. Exchange balances are now close to levels last seen in 2024.

Bitcoin ETF Outflows Reach Three Consecutive Sessions

U.S. spot Bitcoin ETFs recorded $283 million in net outflows on September 10. The session marked the third consecutive trading day of withdrawals. ARK Invest and 21Shares’ ARKB reported the largest outflow, at about $164 million, while Morgan Stanley’s MSBT recorded roughly $4 million in net inflows.

Total assets held across U.S. spot Bitcoin ETFs stood at $97.49 billion after the session, equivalent to about 6.28% of Bitcoin’s market capitalization. Cumulative net inflows since the products launched reached $55.17 billion. The latest withdrawals, however, indicate weaker demand through regulated spot products during the week. These figures track flows into and out of the listed ETF products, so they represent one part of overall Bitcoin demand rather than the entire market.

U.S. spot Ethereum ETFs also recorded net outflows during the same session, with combined withdrawals reaching $29.76 million. BlackRock’s ETHB led individual ETF inflows with $13.95 million. The broader ETF figures provide an additional measure of demand as Bitcoin remains below its recent local high.

Bitcoin Tests the 50-Week EMA Near $77,400

Bitcoin traded around $77,000 after falling from levels near $80,000 earlier in the week. On the weekly chart, the 50-week EMA is positioned near $77,408. BTC is trading close to that level following a sharp rebound from the August low. The 50-week simple moving average is higher, near $79,672.

A weekly close below the 50-week EMA could expose the $72,000 area. That level remains above the chart’s bull-market support band, which currently spans approximately $70,141 to $71,794. Bitcoin would first need to hold the weekly EMA to avoid moving closer to those lower support levels.

Bitcoin’s price action also follows a new golden cross on the daily chart. The cryptocurrency rose from about $62,000 to $82,000 before the crossover formed, then declined toward $77,000. Similar setups in 2021, 2023, 2024, and 2025 were followed by pullbacks after the signal appeared.

A golden cross occurs when the 50-day moving average rises above the 200-day moving average. Traders often monitor the pattern as a longer-term trend indicator. Bitcoin, however, has frequently recorded much of its rally before the crossover occurs. The latest move has followed that pattern so far.

This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets remain highly volatile. Readers should conduct independent research before making investment decisions.