Binance BTC net outflow hits highest since 2023 amid market FOMO: CryptoQuant

The signal here is less the outflow itself than where it sits in the cycle: coins leaving Binance during a rally, rather than into it, is the opposite of the distribution pattern that typically accompanies late-stage euphoria. That divergence between sentiment and on-chain behavior is what makes the CryptoQuant read notable, since it suggests holders are treating the breakout above May's peak as a reason to self-custody rather than to sell. Whether sustained accumulation can coexist with FOMO-driven inflows is the open question, and the exchange flow data is where that tension will show up first.