The largest stablecoin outflow ever has left Binance, with a total value of $900M as Bitcoin reached $100K. Although there were additional inflows and outflows on December 18 and 19, this usually indicates that investors are taking profits and temporarily not reinvesting.
However, at the beginning of November, when Bitcoin was at $70K, Binance witnessed stablecoin inflows exceeding $7B in three days, driving Bitcoin's upward momentum.
Currently, although there is some profit-taking as Bitcoin reached $108K, the scale of the outflow is not significant compared to the inflow in November. This suggests that there is no major reason to be concerned about the current upward trend, despite a short-term pessimistic sentiment this week.