Exchanges see 24,073 BTC net outflow, biggest in seven months

A total of 24,073 BTC flowed out of exchanges on Oct. 5, the largest net outflow since March 1 and the biggest in seven months, according to on-chain analytics platform Santiment. The share of total BTC supply held on exchanges has therefore fallen to about 6.5%. Santiment said exchange outflows mean fewer tokens are immediately available for sale, which could support price gains if demand holds up while liquid supply shrinks.