ETF Inflows Spark Sudden Drop in Bitcoin Exchange Supply

Santiment Intelligence reported that $2.4 billion in inflows into spot Bitcoin ETFs last week pushed BTC off exchanges, signaling a tightening market supply.

The data shows that between September 20 and September 27, the amount of BTC on exchanges decreased by approximately 35,800 coins to 1.325 million, consistent with a net outflow trend.

This is in contrast to the prior week (September 13 to September 20), when the number of BTC on exchanges increased by nearly 20,000 coins.