On October 7, approximately 24,073 BTC were withdrawn from exchanges, marking the largest single-day net outflow in seven months. This movement reduced Bitcoin reserves on exchanges to 6.50% of the total supply, signaling an intensifying supply crunch. Despite the reduction in available supply, Bitcoin's market capitalization fell by over $70 billion within 24 hours amid a broader market selloff.
Over 24,000 BTC left exchanges in a single day, driving exchange reserves down to 6.50% of total supply and signaling a potential liquidity crunch.
Read the full story