Bitcoin Exchange Net Outflow Drops to 1,500 BTC Daily, Futures Market Balances Between Bulls and Bears

On October 23, CryptoQuant analyst Axel Adler Jr. stated that since September 22, the net outflow of Bitcoin (BTC) from exchanges has continued, but the outflow rate has significantly slowed. Currently, the 30-day moving average of net outflow from exchanges is approximately 1,500 BTC per day, down from 3,000 BTC per day a week ago. Axel Adler Jr. pointed out that the recent decline in net outflow indicators is primarily due to the large outflow on September 22 gradually moving out of the 30-day statistical window, rather than a significant influx of BTC back into exchanges. As long as this indicator remains below zero, the supply of BTC available for immediate sale on exchanges continues to decrease. Meanwhile, the 30-day average position direction indicator for BTC futures has risen from -0.5 a week ago to 0.3, indicating a general balance between bulls and bears. This indicator reached 7.6 at the end of August but has mostly remained slightly below zero since the end of September; the daily readings over the past week have fluctuated between -20.5 and 29, showing active market trading but not forming a sustained clear direction. If net outflows from exchanges continue and the futures position direction indicator stabilizes above zero, it will provide support for market demand from both spot and futures perspectives. Conversely, if BTC begins to flow back into exchanges while the futures indicator drops back below zero, it may indicate an increase in available selling chips and a strengthening of bearish forces.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.