Approximately 24,073 BTC left exchanges on a net basis Monday, marking the largest daily outflow in seven months. Bitcoin held on exchange platforms has now fallen to 6.50% of the total supply. On Binance, the 7-day average of mid-size inflows dropped by over 36%, from 4,155 to 2,648 BTC between August 16 and October 7, while Bitcoin price rose 33% over the same period, climbing from $63,000 to above $84,000. On the institutional side, US spot Bitcoin ETFs first recorded nearly $90 million in net outflows Monday before rebounding with $119 million in inflows Tuesday, with BlackRock leading at $122 million for its IBIT.
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