Binance withdrawals

Ethereum investors are pulling ETH off Binance at the fastest pace in three years, a signal analysts read as quiet accumulation even as the asset trades above $2,700. The withdrawal trend arrives alongside a rough week for US spot Ethereum ETFs, which saw hundreds of millions in outflows despite ETH’s price strength.

• ETH rose 6% in 24 hours to trade above $2,700, up 80% from $1,510 three months earlier
• Binance’s monthly average ETH withdrawal transactions topped 90,000, the highest level in three years
• US spot Ethereum ETFs lost $141.4 million, $224.1 million and $39.2 million over three midweek sessions

• $2,700+ ETH price on Monday after a 6% daily gain
• 90,000 monthly average Binance ETH withdrawals, highest in three years
• 80% ETH’s rally from its $1,510 low three months ago
• $224.1M single-day ETF outflow during a week of heavy midweek selling

Ethereum climbed steadily on Monday, gaining 6% over the prior 24 hours to trade above $2,700, according to reporting by CryptoPotato. The move extends a rally that has taken ETH up 80% from $1,510 just three months ago, a stretch that has also shifted its technical structure relative to Bitcoin.

Binance Withdrawals Cross 90,000 a Month, Highest Since 2023

Blockchain analytics firm CryptoQuant found that the monthly average of ETH withdrawal transactions from Binance has crossed 90,000, the highest level recorded in three years, according to its quicktake analysis. That figure is roughly double the withdrawal pace seen at the start of the year.

CryptoQuant described the shift as “fairly sudden” and significant enough to change the asset’s near-term market structure. Rising withdrawals typically indicate investors are moving coins off exchanges into private wallets or custody solutions, a pattern associated with longer-term holding rather than near-term selling.

CryptoQuant’s data also puts Ethereum’s current accumulation pace ahead of Bitcoin’s. ETH has moved above its April high, showing stronger momentum, while Bitcoin has struggled to hold firmly above its own May high. If the withdrawal trend persists, CryptoQuant noted it could remain an important signal for ETH’s direction in the months ahead.

Crypto Patel Flags $2,300 as the Level That Keeps the Bull Case Alive

Independent analyst Crypto Patel said in a post on X that Ethereum’s higher-timeframe structure has flipped bullish, pointing to a clear change of character on the chart following strong buying from the $2,300 demand zone. ETH has since reclaimed the $2,483 to $2,584 fair value gap, a zone Patel called important for the next price reaction.

Patel identified the next upside target between $2,715 and $2,900, where added liquidity could draw in buyers. A larger resistance band sits between $3,070 and $3,404.

The $2,300 level remains a crucial structural support, while $1,647 to $1,744 could become relevant if the current structure breaks down. Patel added that the bullish setup remains valid as long as ETH holds $2,360.

ETF Outflows Pull August Inflows Below $190 Million

US-listed spot Ethereum ETFs had a difficult stretch even as spot prices climbed. The funds lost $141.4 million on Tuesday, followed by $224.1 million on Wednesday and $39.2 million on Thursday, a run of midweek selling that outweighed inflows of $121 million on Monday and $143.8 million on Friday.

The net effect has pulled August’s cumulative ETF inflows below $190 million. That gap between rising spot demand and retreating ETF flows leaves open which signal, exchange withdrawals or fund flows, proves the better guide to where institutional positioning is headed next.

The BlockWest read. The split between falling exchange balances and shrinking ETF inflows suggests two different investor bases are moving in opposite directions. Wallet-level holders appear to be accumulating directly, while ETF allocators, often the more institutional cohort, pulled back midweek despite the rally. Watch whether ETF flows re-couple with spot price strength or whether direct custody keeps outpacing regulated fund vehicles as the preferred exposure route.

The next test for Patel’s bullish framework is whether ETH can hold the $2,360 level while pushing toward the $2,715 to $2,900 target zone, with CryptoQuant’s withdrawal data due for its next monthly update to confirm whether Binance outflows keep accelerating.