Bitcoin recorded its largest single-day net outflow since March 1, with approximately 24,073 BTC leaving exchanges on October 5, suggesting a significant move toward private wallets or custody solutions. This outflow occurs as BTC struggles below the $87,000 threshold, trading around $83,654 after declining from the $85,000 level. The amount of Bitcoin held on exchanges dropped to roughly 6.50% of total supply, indicating a tighter liquid supply environment that could support prices. However, the global cryptocurrency market cap fell 2.7% in 24 hours to $2.92 trillion, and elevated Treasury yields (above 5.3% for the 10-year and 5.6% for the 30-year) continue to weigh on Bitcoin, despite a 46% gain from its July low of $57,800.
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