Bitcoin Surges 1.8% to $109,386 as Binance Sees 3,400 BTC Outflow

Bitcoin has recently experienced a surge in value, briefly crossing the $110,000 threshold before retreating slightly. The cryptocurrency reached a 24-hour high of $110,117, currently trading at $109,386, marking a 1.8% increase over the past day. This upward momentum has placed Bitcoin within striking distance of its all-time high of $111,814, recorded in May 2025, drawing renewed attention from traders and analysts.

While price movements often capture headlines, on-chain data is signaling deeper market activity. According to CryptoQuant analyst Amr Taha, a significant volume of Bitcoin has been moved off Binance, one of the world’s largest crypto exchanges. This shift coincides with anticipation around a series of US macroeconomic indicators, which historically influence risk-on assets like Bitcoin.

Taha noted that Binance recorded a net outflow of over 3,400 BTC in a single day, shortly after Bitcoin’s price breached the $109,000 mark. Large-scale withdrawals from exchanges like Binance are often interpreted as a sign that holders may be preparing to hold their assets longer-term or shielding their positions from potential short-term volatility.

Simultaneously, Binance’s share of the global Bitcoin spot volume surged significantly, from 41% to 56% in just one session. This spike indicates increased reliance on Binance’s liquidity by traders seeking exposure to Bitcoin ahead of anticipated market-moving economic data. The outflow trend, paired with rising spot volume, suggests that traders are actively responding to broader market signals, especially from traditional finance.

The current surge in Bitcoin activity coincides with heightened market focus on US labor market data, including the Non-Farm Employment Change, Unemployment Rate, and Average Hourly Earnings figures. These indicators are closely watched by investors as they influence inflation expectations and the Federal Reserve’s approach to interest rate adjustments. Shifts in rate expectations often have direct consequences for risk assets like Bitcoin, as changes in the cost of capital affect liquidity and investor appetite.

Taha suggests that the recent Binance outflows may reflect investor positioning ahead of potential macro-driven market volatility. “Bitcoin outflows from Binance alongside the sharp rise in spot trading activity… appear to show that investors are positioning for potential upside volatility,” he wrote. A favorable labor report could amplify bullish sentiment across both equity and crypto markets if it strengthens expectations of a rate cut or an extended pause in rate hikes.