Crypto Market Sees 4,000 BTC 61,000 ETH Withdrawals From Binance Amid Geopolitical Calm

On the 23rd of June, a significant shift in the crypto market was observed as over 4,000 BTC and 61,000 ETH were withdrawn from Binance. This movement was driven by easing geopolitical tensions, particularly following President Donald Trump’s ceasefire announcement between Iran and Israel. The ceasefire, despite initial tensions and accusations from both sides, has held, contributing to a broader risk-on rally across global markets.

The outflows from Binance were notable, marking one of the largest single-day withdrawals in recent memory. This trend was primarily driven by Binance, while other exchanges remained largely neutral. The scale of these outflows suggests that institutional investors or high net-worth individuals (HNIs) are repositioning away from short-term speculation, indicating a growing confidence in market stability and a preference for self-custody. This behavior is often seen in early-stage bull cycle positioning, where investors seek to accumulate assets for long-term gains.

The ceasefire between Israel and Iran, though initially shaky, has calmed market nerves and boosted risk sentiment. Leading crypto assets responded positively to the improving sentiment, with Bitcoin and Solana rebounding into positive territory. In contrast, Ethereum and Binance Chain remained relatively flat, signaling a selective market recovery and a tentative return of investor confidence.

Macro conditions have also strengthened, with the S&P 500 surging past the 6,000 mark for the first time since February 2025, indicating investor confidence and a clear shift toward risk assets. Simultaneously, West Texas oil prices plunged over 14%, reinforcing the global disinflation narrative. These indicators suggest a backdrop of easing geopolitical tensions, declining cost pressures, and strong growth appetite, creating a favorable setup for crypto accumulation.

For crypto, this macro environment mirrors risk-on sentiment in traditional financial markets, potentially driving further accumulation and investment in digital assets. However, the sustainability of this rally remains uncertain, as geopolitical tensions and market dynamics can quickly shift. Investors will need to monitor these developments closely to determine the long-term viability of the current bullish trend.