BTC held on exchanges has dropped notably, according to Santiment. On Monday, about 24,073 units left exchanges on a net basis.<\/p>\n
This is the largest daily outflow in seven months.<\/p>\n
The last similar move came on March 1. Data compiled by Santiment showed<\/a> that exchange-held Bitcoin has now fallen to around 6.50% of the total supply. Large outflows are often seen as a positive sign because fewer coins remain readily available for selling. If demand stays steady, tighter supply could support higher prices. The analytics platform added,<\/p>\n \u201cPersistent withdrawals can signal investors shifting BTC toward longer-term custody rather than preparing to sell. Outflows alone guarantee nothing, but falling exchange supply strengthens the bullish setup.\u201d<\/p>\n The latest data from CryptoQuant adds to the bullish picture. Its analysis revealed that mid-size Bitcoin inflows have fallen on some major exchanges even as the crypto asset has climbed more than 33% since mid-August. On Binance, the 7-day average of mid-size inflows fell from 4,155 BTC on August 16 to 2,648 units on October 7, a decline of over 36%. Bitcoin was trading<\/a> near $63,000 in mid-August and is now above<\/a> $84,000.<\/p>\n This means the drop has come even as the price has been trading on the higher side. Coinbase Prime also saw a similar decline, with mid-size inflows falling from 1,620 to 1,370 BTC, down around 15%.<\/p>\n Coinbase Advanced, on the other hand, moved in the opposite direction. Mid-size inflows there increased to 4,760 from 2,520 BTC in August. But the latest reading remains below the 5,000 BTC level. Current mid-size inflows on Binance and Coinbase Prime are well below some of the bigger spikes recorded earlier this year, including those seen in February, June, and late August.<\/p>\n The trend is important because lower exchange inflows can point to less selling activity. Mid-size investors do not appear to be rushing to send coins to exchanges.<\/p>\n On the institutional side of things, US spot Bitcoin ETFs saw a quick change in investor mood this week. After starting Monday with almost $90 million in net outflows, the funds bounced back on Tuesday with combined inflows of $119 million.<\/p>\n BlackRock\u2019s IBIT led the recovery after pulling in $122 million in fresh money and recording the biggest inflow among the ETFs. Morgan Stanley\u2019s MSBT also attracted $7.84 million in capital. Meanwhile, the Grayscale Bitcoin Mini Trust saw the biggest outflow, losing around $11 million.<\/p>\n The post 24,000 BTC Just Left Exchanges: Is Bitcoin\u2019s (BTC) Supply Crunch Heating Up?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BTC held on exchanges has dropped notably, according to Santiment. On Monday, about 24,073 units left exchanges on a net basis. This is the largest daily outflow in seven months. Fresh Bullish Hopes The last similar move came on March 1. Data compiled by Santiment showed that exchange-held Bitcoin has now fallen to around 6.50% […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-236590","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/236590"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=236590"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/236590\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=236590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=236590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=236590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETF Inflows Turn Positive<\/h2>\n