CryptoQuant reports $1 billion in Bitcoin withdrawn from exchanges in 24 hours

CryptoQuant, an on-chain analytics platform focused on blockchain data, reported a sharp increase in Bitcoin outflows from exchanges, with a net outflow of approximately 12,570 BTC on October 27, valued at around $1.01 billion. This figure stands out as one of the top daily outflows for the month. Recent data shows that over $1 billion worth of Bitcoin has left exchanges within a 24-hour window. CryptoQuant described this as a dramatic drop in exchange netflow, which shifted from a positive balance of more than 7,000 BTC just a day earlier to a significant negative netflow by October 27. This sharp outflow is notable when compared to other recent events.

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