Bitcoin exchange supply drops by 35,800 BTC amid ETF inflows

According to Huoxing Finance, on September 29, Santiment Intelligence reported that last week’s $2.4 billion in inflows into spot Bitcoin ETFs pushed BTC off exchanges, signaling signs of tightening market supply. Santiment 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 the net outflow trend. In contrast, during the prior week (September 13 to September 20), the number of BTC on exchanges increased by nearly 20,000 coins. Over the two-week period combined, approximately 15,900 BTC left exchanges, though current exchange supply remains higher than all levels observed in July. Notably, on September 22 alone, BTC supply on exchanges dropped by about 26,700 coins—roughly double the average daily outflow—indicating this shift is unlikely due merely to address reclassification. Santiment noted that more than half of last week’s decline in exchange BTC supply had been reversed during the previous week. ETF fund flows remain a key contextual factor influencing recent changes in BTC supply.