Following a volatile period marked by three consecutive weeks of massive capital flight, the latest data from the Binance Multichain Weekly Netflow Timeseries suggests that the “bleeding” has significantly slowed down. The market appears to have entered a phase of relative stability after the storm.

The Storm: Three Weeks of Aggressive Outflows

Looking back at the trend starting mid-January 2026, Binance experienced a severe stress test regarding asset reserves:

The Capitulation Phase (Jan 19 - Feb 02):

For three straight weeks, starting from the week of Jan 19, we witnessed multi-billion dollar outflows.

The peak occurred during the week commencing Jan 26, 2026, where we saw a staggering ~$5.9 Billion net outflow in Bitcoin (BTC_Native) alone, alongside significant exits in Ethereum and Stablecoins.

This trend continued into the week of Feb 02, with another ~$4.7 Billion in BTC leaving the exchange. This consistent red volume indicated either extreme market fear or a massive strategic shift toward self-custody by institutional whales.

The Calm: Week of February 9th

In contrast to the previous month’s volatility, the data for the week starting February 9, 2026, paints a different picture. The aggressive selling pressure has dissipated:

BTC Netflow: Dropped from billions in outflows to a negligible -$167 Million.

ETH Netflow: Narrowed down to -$407 Million, a fraction of the previous weeks’ volume.

Stablecoins: While USDT (ERC20) still shows some negative flow, the magnitude has decreased compared to the January highs.

Conclusion & Outlook

The dramatic shrinkage of the negative bars suggests that the selling exhaustion point may have been reached. The market has absorbed the shock of the heavy distribution phase seen in late January.

While we are not yet seeing significant positive inflows (accumulation), the absence of heavy outflows is a bullish divergence from the recent trend. This “calm” indicates that the weak hands have been flushed out. Traders