Bitcoin Sees Massive $1 Billion Exchange Exodus

According to data from the on-chain analytics platform CryptoQuant, the Bitcoin exchange netflow has dramatically dropped to -12,570 BTC or so as of Oct. 27. The number is among the top daily outflows this month. Net Bitcoin outflows from exchanges recently soared to over $1 billion in just the last 24 hours. On a net basis, over $1 billion of BTC has been withdrawn from exchanges in the last 24 hours. A CryptoQuant chart indicates that the Bitcoin exchange netflow has dramatically dropped to -12,570 BTC or so (as of October 27). It's one of the biggest daily outflows this month. The latest net outflow (if the BTC price is around $80,487) is equivalent to around $1.01 billion. The chart from CryptoQuant points out that exchange activity has dramatically reversed.

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