Bitcoin Exchange Outflows Improve to 12,702 BTC, Analysts Maintain Neutral Position

As of October 27, Bitcoin exchange outflows indicate an improvement in supply conditions, with a net outflow of 12,702 BTC, compared to a net inflow of 7,278 BTC the previous day. The net outflows over the past 7 days and 30 days were 4,633 BTC and 4,048 BTC, respectively, with inflows recorded on 4 days during this period. The funding rate is +0.00762%, higher than the 7-day and 30-day averages, indicating bullish sentiment but not overheating. Open interest stands at $25.67 billion, up 0.56% over 7 days and 0.33% over 30 days. The LTH-SOPR dropped from 1.1657 to 1.0124, nearing the breakeven point, failing to confirm a decrease in selling volume. Analyst CoinNiel stated that a neutral judgment is maintained until a sustained trend of net outflows from exchanges is formed; if net outflows continue and the funding rate and open interest remain stable, it will strengthen a bullish judgment. However, if net inflows reoccur and both metrics rise significantly, a reassessment will be necessary. Recent net outflows have been primarily driven by single-day movements, with the funding rate still positive and open interest growing moderately.

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