TL;DR:
- Nearly 24,073 BTC left exchanges in a single day, the largest net daily withdrawal in seven months, according to Santiment.
- Bitcoin reserves on exchanges fell to 6.50% of total supply, reducing the amount available for sale on the market.
- Spot Bitcoin ETFs in the U.S. reversed Monday’s $90 million outflows, recording net inflows of $119 million the following day.
The Bitcoin market showed a significant accumulation signal: around 24,073 BTC left exchanges on a net basis on Monday, October 7, according to data from analytics platform Santiment.
This marks the largest single-day withdrawal since March 1, bringing Bitcoin reserves held on exchanges to approximately 6.50% of total circulating supply. The move suggests that a relevant portion of investors chose to transfer their holdings to self-custody or long-term storage solutions, rather than keeping them on trading platforms where they could be liquidated more easily.
Santiment noted that “persistent withdrawals may indicate that investors are moving BTC into long-term custody rather than preparing to sell”, while clarifying that outflows alone do not guarantee a bullish trend, but simply strengthen the scenario favorable to prices if demand remains stable.
🚨 BTC Exchange Supply Shrinks as 7-Month High Net of 24K Coins Leave Exchanges
🏦 Bitcoin just recorded its largest net exchange outflow in seven months. On Monday, 24,073 BTC left exchanges on net, the biggest single-day exodus since March 1st. Exchange supply has fallen to… pic.twitter.com/SknzMfKVZ9
— Santiment Intelligence (@SantimentData) October 6, 2026
What the Platforms Are Saying
Data from CryptoQuant points in the same direction. The firm’s analysis revealed that medium-sized inflows into some major exchanges declined even as Bitcoin accumulated more than 33% in gains since mid-August.
On Binance, the seven-day average of medium-sized inflows fell from 4,155 BTC on August 16 to 2,648 units on October 7, a drop of more than 36%. Bitcoin was trading near $63,000 in mid-August and surpasses $83,000 at the time of the report. Coinbase Prime recorded a similar dynamic, with median inflows falling from 1,620 to 1,370 BTC, a decline of 15%.
Coinbase Advanced showed the opposite behavior: its median inflows grew from 2,520 to 4,760 BTC, though still below the 5,000-unit threshold. Current levels on Binance and Coinbase Prime remain below the peaks recorded in February, June and late August.
Spot BTC ETFs Recover Ground
On the institutional side, spot Bitcoin ETFs in the United States showed a swift trend reversal. After starting the week with net outflows of nearly $90 million on Monday, the funds recorded combined inflows of $119 million on Tuesday.
