Bitcoin Exchange Outflows Slow to 1,500 BTC a Day as Futures Near Balance

Bitcoin (BTC) outflows from exchanges slowed to about 1,500 BTC a day over 30 days, while a futures positioning gauge rose above zero, suggesting long and short positions were closer to balance. Analyst Axel Adler Jr. tied the slowdown mainly to a large Sept. 22 withdrawal falling out of the 30-day calculation, rather than to a broad return of BTC to exchanges. The netflow measure remained below zero, meaning the supply available for immediate sale on exchanges was still declining. The futures gauge’s 30-day average rose to 0.3 from -0.5 a week earlier.