đ $1B in BTC just left exchanges â one of October's biggest outflows, right before the Fed.
đ CryptoQuant data: Bitcoin exchange netflow fell to about -12,570 BTC on Oct 27, worth about $1.01B at around $80,487.
đ Why it matters: coins leaving exchanges shrink the supply immediately available to sell â the opposite signal to exchange deposits, which traders watch as potential sell pressure.
đ The swing is sharp: just a day earlier, netflow was over +7,000 BTC into exchanges. This is a reversal, not a slow drift.
đ Context: BTC is holding above $80,000 this afternoon, around $80,900, with support at $79,500-$79,600 and resistance at $81,200-$81,250 ahead of tonight's Fed decision at 01:00 Vietnam time.
đ The honest counterpoint: CryptoQuant notes the Oct 27 figure is preliminary and may be revised, and an outflow alone is not a price guarantee â watch whether exchange balances keep falling after the Fed.
#BinanceSquare #Bitcoin #BTC #Crypto
Watch the Fed reaction, not just the outflow.
đ CryptoQuant data: Bitcoin exchange netflow fell to about -12,570 BTC on Oct 27, worth about $1.01B at around $80,487.
đ Why it matters: coins leaving exchanges shrink the supply immediately available to sell â the opposite signal to exchange deposits, which traders watch as potential sell pressure.
đ The swing is sharp: just a day earlier, netflow was over +7,000 BTC into exchanges. This is a reversal, not a slow drift.
đ Context: BTC is holding above $80,000 this afternoon, around $80,900, with support at $79,500-$79,600 and resistance at $81,200-$81,250 ahead of tonight's Fed decision at 01:00 Vietnam time.
đ The honest counterpoint: CryptoQuant notes the Oct 27 figure is preliminary and may be revised, and an outflow alone is not a price guarantee â watch whether exchange balances keep falling after the Fed.
#BinanceSquare #Bitcoin #BTC #Crypto
Watch the Fed reaction, not just the outflow.