Santiment: Bitcoin CEX net outflow hit a nearly 7-month high on Monday.

BlockBeats news, October 7th, Santiment released data this morning showing that on Monday, Bitcoin's CEX net outflow reached 24,073 coins, the largest single-day outflow since March 1st. CEX supply has dropped to approximately 6.50% of the total BTC supply.

Santiment believes that large-scale outflows are usually a bullish signal, as coins leaving CEX become less readily available for immediate selling. If demand remains strong while liquid supply shrinks, buyers will have fewer available coins to absorb, and then the price will need to move upward.