Crypto exchanges are emptying their bitcoins at a pace rarely seen in two years. In less than three months, nearly 100,000 BTC have left Binance, OKX, and Gemini, amounting to over 8 billion dollars withdrawn from the market.
Cathie Wood and Changpeng Zhao recently discussed Bitcoin, market cycles, and the October 11 crypto flash crash during a podcast conversation that quickly gained attention across the crypto community. For the unversed, the October 10–11, 2025 flash crash was one of the biggest sell-offs crypto had ever seen, wiping out more than $19.
On-chain analytics firm CryptoQuant has identified a significant divergence in the demand structures driving Bitcoin and Ethereum's recoveries in 2026, with Bitcoin attracting sustained institutional spot buying while Ethereum's price stability reflects reduced selling pressure rather than genuine new demand — a distinction that carries major implications for the broader market's next move. Related Reading: Bitcoin Reclaims Short-Term Holder Cost Basis—What It Means According to CryptoQuant's analysis of on-chain and exchange data covering April and early May 2026, Bitcoin and Ethereum are operating under fundamentally different demand regimes.