Analysis: Net outflows from Bitcoin trading platforms drop to 1,500 per day, current futures market long-short positions trending towards equilibrium.

BlockBeats news, October 23 - CryptoQuant analyst Axel Adler Jr. stated that since September 22, BTC has continued to show net outflows from trading platforms, but the pace of outflows has significantly slowed. Currently, the 30-day moving average of net outflows from trading platforms is approximately 1,500 BTC per day, halving from 3,000 BTC per day a week ago.

Axel Adler Jr. pointed out that the recent decline in the net outflow indicator is mainly because the large outflows from September 22 are gradually moving out of the 30-day statistical window, rather than a large amount of BTC flowing back into trading platforms. Currently, as long as this indicator remains below zero, the supply of BTC available for immediate sale on trading platforms is still decreasing.

Meanwhile, the 30-day average position direction indicator in the BTC futures market has risen from -0.5 a week ago to 0.3, indicating that longs and shorts are generally becoming more balanced. This indicator reached 7.6 at the end of August, and since then has mostly been slightly below zero since the end of September; daily readings over the past week fluctuated between -20.5 and 29, showing active market trading but no sustained clear direction has yet formed.

If trading platforms continue to see net outflows and the futures position direction indicator stably remains above zero, this will provide support for market demand from both spot and futures sides. Conversely, if BTC turns to inflows into trading platforms while the futures indicator falls back below zero, it may mean an increase in sellable chips and strengthened bearish forces.