Binance BTC Outflows Exceed Reported Hack Losses as Reserves Fall

Binance BTC outflows exceeded the reported amount stolen during the exchange’s recent security incident. Between November 1 and 2, users withdrew 25,793 BTC, compared with 18,270 BTC stolen. The withdrawals marked the year’s biggest single-day outflows across BTC, ETH, USDT and USDC, according to the data figures.

Binance Withdrawals Show Fear Outran The Hack

The panic, however, appears to be fading. By November 3, ETH, USDT and USDC had returned to net inflows. That suggests the withdrawal rush wasn’t necessarily turning into a sustained exodus across every major asset.

Bitcoin exchange reserves also declined, slipping from 2.85 million BTC to 2.83 million BTC. The drop offers another sign of coins leaving exchange-held balances, although reserve changes alone don’t establish where withdrawn assets went.

Binance BTC Funding Rate Signals Growing Bullish Bets

Meanwhile, Binance futures traders are getting more aggressive. The BTC funding rate reached 0.01, its highest reading in more than two months, against a 30-day simple moving average of approximately 0.004557.

Positive funding means traders holding long positions are paying fees to short-position holders. In plain terms, bullish bets are becoming more expensive.

Rising Long Exposure Could Bring Liquidation Risk

That optimism comes with a catch. Crowded long positions can leave traders vulnerable if prices suddenly fall, triggering liquidations and potentially intensifying volatility.

For now, the data presents a mixed picture: Binance BTC outflows remain notable and futures sentiment has turned more bullish. Whether confidence fully returns depends on what traders do next.