Bitcoin Net Outflows From Centralized Exchanges Reach 24,073 BTC
The daily outflow was the largest since March 1, while Bitcoin held on centralized exchanges stood at about 6.50% of total supply.
Bitcoin (BTC) net outflows from centralized exchanges reached 24,073 BTC on Monday, marking the largest single-day outflow since March 1.
Bitcoin held on centralized exchanges stood at about 6.50% of total BTC supply on Oct. 7. Coins that leave centralized exchanges are less immediately available for sale on those platforms.
If demand remains strong while the readily available supply declines, buyers have fewer coins available to absorb. The figures describe exchange balances and net flows, without establishing that the 24,073 BTC outflow caused the change in exchange-held supply.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.