24,073 Bitcoin left exchanges – the biggest outflow in seven months.
Santiment reports that exchange‑held Bitcoin fell to about 6.50% of total supply after the net outflow of 24,073 units on Monday.
Large outflows are often seen as a positive signal because fewer coins are readily available for selling, and the analytics platform noted that persistent withdrawals may indicate investors moving Bitcoin to longer‑term custody.
CryptoQuant data shows mid‑size inflows on Binance dropped from a 7‑day average of 4,155 BTC on August 16 to 2,648 units on October 7—a decline of over 36%—while Binance price moved from around $63,000 to above $84,000.
Coinbase Prime’s mid‑size inflows fell from 1,620 to 1,370 BTC (about 15%), whereas Coinbase Advanced saw inflows rise to 4,760 from 2,520 BTC, still below the 5,000 BTC threshold.
On the institutional side, U.S. spot Bitcoin ETFs reversed a $90 million net outflow on Monday with $119 million of inflows on Tuesday, led by BlackRock’s IBIT with $122 million and Morgan Stanley’s MSBT with $7.84 million; Grayscale’s Mini Trust recorded an outflow of roughly $11 million.
Do you think the shrinking on‑exchange supply will keep price pressure to the upside?
#Bitcoin #Crypto #ETFs #MarketData
Santiment reports that exchange‑held Bitcoin fell to about 6.50% of total supply after the net outflow of 24,073 units on Monday.
Large outflows are often seen as a positive signal because fewer coins are readily available for selling, and the analytics platform noted that persistent withdrawals may indicate investors moving Bitcoin to longer‑term custody.
CryptoQuant data shows mid‑size inflows on Binance dropped from a 7‑day average of 4,155 BTC on August 16 to 2,648 units on October 7—a decline of over 36%—while Binance price moved from around $63,000 to above $84,000.
Coinbase Prime’s mid‑size inflows fell from 1,620 to 1,370 BTC (about 15%), whereas Coinbase Advanced saw inflows rise to 4,760 from 2,520 BTC, still below the 5,000 BTC threshold.
On the institutional side, U.S. spot Bitcoin ETFs reversed a $90 million net outflow on Monday with $119 million of inflows on Tuesday, led by BlackRock’s IBIT with $122 million and Morgan Stanley’s MSBT with $7.84 million; Grayscale’s Mini Trust recorded an outflow of roughly $11 million.
Do you think the shrinking on‑exchange supply will keep price pressure to the upside?
#Bitcoin #Crypto #ETFs #MarketData
