According to @Andre_Dragosch, another 6,686.7 BTC was withdrawn from Coinbase, flagging a notable exchange outflow that traders are monitoring for near-term market impact. Source: Andre Dragosch on X, Nov 17, 2025. Historically, sustained BTC net outflows from exchanges align with falling exchange reserves and accumulation phases that have coincided with stronger price performance in prior cycles. Source: Glassnode, The Week On-Chain research (2020–2024). Such withdrawals reduce immediately available spot inventory on exchanges and can lessen near-term sell pressure, affecting order book depth and liquidity. Source: CryptoQuant Research on Exchange Flows. Traders are watching basis and funding rates, as well as Coinbase–Binance spot spreads, to confirm whether these outflows translate into sustained buy-side pressure. Source: Binance Research on market indicators; CME Group education on basis and funding.

According to The Data Nerd, several large Bitcoin withdrawals occurred on Binance within the last 24 hours. Notably, the address bc1q0 withdrew 600 BTC, totaling approximately $51.48 million, after accumulating 2,100 BTC worth around $178.21 million over three days at an average entry price of $84,860. Another address, 3PRHV, withdrew 73.44 BTC, valued at about $6.25 million, at an entry price of $85,188. Additionally, Galaxy Digital withdrew 657 BTC. Such movements by major players can signal potential market impacts and trading opportunities.