Weekly order flow: $272.6M of net selling, but $333.8M of net buying once stablecoins are stripped out
Bitcoin (BTC)
Over the week ending 20 September 2026, takers netted out as sellers of $272.6M across the 145 Binance spot markets tracked by Whalio. In the preceding week, net selling stood at $995.1M. Turnover totalled $51.76bn, compared with $44.56bn previously.
The headline figure and the underlying market structure point in opposite directions. Dollar-pegged pairs recorded -$588.6M on $20.9bn of turnover, while gold-backed tokens showed -$17.8M.
Excluding these, the remaining 137 markets saw net buying of $333.8M on $30.6bn of turnover. Essentially, the negative headline figure stems from stablecoins; the other coins experienced net inflows.
Breadth data shows that 135 of the 145 coins measured finished the week higher.
The markets attracting the most net buying included Bitcoin, with $324.4M against a price gain of 5.64%; Zcash, with $89.7M against a price gain of 42.04%; Uniswap, with $22.1M against a price gain of 42.59%; and First Digital USD, with $18.2M.
The markets experiencing the most net selling were USDC ($529.1M), World Liberty Financial USD ($39.7M), Ripple USD ($36.8M), and BNB ($25.6M against a price gain of 7.84%).
These figures apply to Binance spot markets only. Taker flow indicates which side crossed the spread, rather than money entering or leaving the asset class. The data does not capture futures, options, or trading activity outside this order book.
The measurements
Computed by Whalio from closed Binance spot candles. Every figure on this page can be reproduced from the same public exchange data; the method is on the methodology page.
Net flow is the sum of every trade that lifted an offer minus every trade that hit a bid, counted in dollars across the 145 Binance spot markets Whalio tracks. Stablecoin pairs are reported separately because flow there is one dollar token being rotated into another, which is not the same thing as risk being taken or cut.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
For scale
What these measurements normally look like, so the figures above can be told from ordinary ones.
The same window a week earlier ran -$995.1M on $44.56bn of turnover, and -$679.3M once stablecoins and gold tokens are excluded.