1h ago

Bitcoin net exchange outflows reach a 7-month high

AI Market Summary

Bitcoin led a broad crypto selloff, but onchain data shows exchange net outflows hit a 7-month high, pushing exchange-held BTC supply to the lowest level in over seven months. Concurrently, 10–10,000 BTC “whale” and “shark” wallets added ~86,702 BTC in three weeks, while very small holders continued selling. The divergence implies reduced near-term sell-side liquidity alongside uneven investor positioning.

Impact level

● Medium

Affected assets

BTC/USDT-2.79%

AI Insight · BTC/USDTAI Insight

● Neutral

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Bitcoin led a broader crypto selloff on October 7, and its market capitalization fell by more than $70 billion over the past 24 hours. Despite the drop, on-chain data show bitcoin’s net exchange supply declined as net outflows hit a seven-month high. Addresses holding 10 to 10,000 BTC added 86,702 BTC over the past three weeks, while wallets with less than 0.01 BTC have continued selling.

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