Santiment: Bitcoin on Monday this week CEX net outflows reached a new high in nearly 7 months
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AT A GLANCE
Santiment said that Bitcoin on Monday this week had CEX net outflows of 24,073, reaching a new single-day high since March 1.
Article
Santiment: Bitcoin on Monday this week CEX net outflows reached a new high in nearly 7 months
BlockBeats news,October 7, Santiment released data this morning stating that on Monday this week, Bitcoin CEX net outflows reached 24,073, the largest single-day outflow since March 1.CEX supply has fallen to approximately BTC of total 6.50%.
Santiment believes that large-scale outflows are generally a positive signal because coins leaving CEX become less immediately available for selling. If demand remains strong while liquid supply contracts, buyers will have fewer available coins to absorb, and the price will then need to move upward.
Original link https://m.theblockbeats.info/flash/370551
Key points
01
BlockBeats reported on October 7 data released by Santiment.
02
Santiment stated that Bitcoin on Monday this week had CEX net outflows of 24,073.
03
Santiment said this was the largest single-day outflow since March 1.
04
Santiment said that CEX supply has fallen to approximately BTC of total supply 6.50%。
05
Santiment believes that large-scale outflows are generally a positive signal because coins leaving CEX are not easily available for immediate sale.
06
Santiment believes that if demand remains strong and liquid supply contracts, the price will need to move upward.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
CEX refers to centralized exchanges. Net outflows mean that the amount of Bitcoin leaving exchanges is greater than the amount flowing in. Santiment therefore believes that fewer coins may be immediately available for sale, but this is its interpretation of the data.
Why it matters to readers
This data reflects changes in Bitcoin supply on CEX. If demand remains strong, Santiment believes that lower available supply could affect the price. The original text did not prove that the price would definitely rise.
Beginners can treat this as an indicator for monitoring exchange supply and should not determine the direction of buying or selling solely based on this data.
Risks and unknowns
The original text did not provide 24,073 the statistical definition, address scope, or raw data for the net outflow.
The original text did not explain CEX the specific calculation method for the approximately 6.50%supply.
Whether Bitcoin demand will remain strong cannot be confirmed from the original text.
The original text did not state whether net outflows will continue or whether the related Bitcoin will flow back into CEX.
Whether the price will rise as a result has not yet been confirmed.
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Related concepts
CEX
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