CryptoQuant Analyst: Bitcoin Supply Conditions Improve, Market Stance Remains Neutral

CryptoQuant analyst CoinNiel stated that as of October 27th (UTC+8), Bitcoin exchange outflows indicate an improved supply situation, but the evidence still supports a neutral stance. Exchanges reversed their net inflow of 7278 BTC on October 26th to a net outflow of 12702 BTC on October 27th, with 7-day and 30-day net outflows of 4633 and 4048 BTC respectively. Inflows were recorded on 4 out of the past 7 days. The funding rate was +0.00762%, higher than the 7-day and 30-day averages; open interest was $25.67 billion, up 0.56% over 7 days and 0.33% over 30 days. The LTH-SOPR decreased from 1.1657 to 1.0124, approaching the break-even point.