New wallets have cumulatively transferred out approximately 2,492 BTC from BitGo and Binance.

A newly created wallet withdrew 1,489 BTC, worth roughly $111.34 million, from BitGo, while three other fresh wallets pulled a combined 1,002.86 BTC, about $75 million, from Binance over the past 24 hours, according to Lookonchain data dated November 10. The transfers total approximately 2,492 BTC in outflows from the two custodial and exchange platforms. The concentration of withdrawals into newly generated addresses matters because it may signal large holders or institutions moving coins into fresh custody rather than preparing to sell on-exchange. Traders will watch whether these wallets later deposit back to exchanges, a common precursor to selling, or remain dormant as long-term holdings.