Bitcoin sees its largest exchange outflow in five weeks ahead of the Fed decision.

Santiment reported a net outflow of 14,942 BTC from exchanges, the largest daily withdrawal in five weeks, occurring ahead of the Federal Reserve's rate decision on Wednesday and GDP/PCE data on Thursday, suggesting reduced short‑term selling pressure.

In September, 17,755 BTC left exchanges on September 22, after which Bitcoin rose above $86,600. Although the current outflow is smaller, both events involve substantial coin movements. Santiment highlighted $80,000 as a key level; staying above could support a rebound to $82,500‑$84,000, while a drop below $79,000 would weaken the bullish setup.

Analyst Sykodelic believes Bitcoin may be gearing up for another rally if it reclaims the 50‑week moving average and the Supertrend, patterns seen in 2015, 2019, 2020 and 2023. Meanwhile, US spot BTC ETFs have logged net outflows of over $26 million in October, and mining firm MARA transferred 1,000 BTC (about $80.2 million) to BitGo, raising concerns of potential selling pressure, though no sale has been confirmed.

Summary rewritten by AI from the original article by CryptoPotato.