Live markets: Bitcoin holds above $60,000 as yen jumps on intervention fears

Binance saw over $2 billion in net outflows over the past 7 days, according to CoinMarketCap data.

The world's largest crypto exchange’s retail flow profile has also been weakening. CryptoQuant analyst Darkfost said BTC inflows of less than 1 BTC on Binance have fallen to a monthly average of 329 BTC per day, the lowest level in the exchange’s history.

That compares with 2,690 BTC per day at the 2021 cycle peak and 3,700 BTC per day in 2018, according to the analyst. A single day in January 2018 saw 10,400 BTC of sub-1 BTC inflows.

Binance remains the largest crypto exchange by trading volume. The exchange is no longer serving some EU users after missing the July 1 deadline to secure authorization under Europe’s Markets in Crypto-Assets (MiCA) framework. Binance withdrew its MiCA application in Greece and has said it remains committed to Europe.