Bitcoin must break this level to resume bull market as $2.4B in BTC leaves exchanges
26 März 2025 - 12:30PM
Cointelegraph
Over 27,740 Bitcoin (BTC) worth $2.4
billion were withdrawn from exchanges on March 25, the highest
daily outflow since July 31, 2024. Meanwhile, US spot Bitcoin
exchange-traded funds (ETFs) continue their inflow streak,
suggesting that institutional demand is making a comeback.
Is the Bitcoin bull run about to resume?
Bitcoin exchange outflows hit 7-month
high
Bitcoin is making another attempt at a
technical breakout above $90,000 as supply on exchanges
continues to decrease.
Bitcoin: Net flow to exchanges. Source: Glassnode
A closer look at the data reveals that a huge chunk of these
withdrawals were made by whales, or entities holding at least 1,000
BTC, who withdrew more than 11,574 BTC worth approximately $1
billion from exchanges on March 25.
Bitcoin whale withdrawal from exchanges. Source:
Glassnode
High Bitcoin outflows from exchanges and whale withdrawals, in
particular, reduce sell pressure, often signaling accumulation and
bullish sentiment, which can drive prices up.
Related:
Bitcoin, Ethereum to end Q1 in the red, ‘vertical swing
up’ unlikely
Additionally, blockchain analytics firm Arkham Intelligence
noted that a “billionaire Bitcoin whale” added 2,400 BTC
worth over $200 million on March 24. Despite some selling in
February, the given whale now holds over 15,000 BTC.
The whale started acquiring Bitcoin five days ago after selling
when Bitcoin’s price was between $100,000 and $86,000 in February.
This may suggest that such large investors saw the
recent lows as a buying opportunity in anticipation of higher
prices.
Spot Bitcoin ETF flows take a “positive
turn”
Another sign of major investors buying BTC again is the
continuation of
capital flows into spot Bitcoin
exchange-traded funds (ETFs) since March 14. Spot Bitcoin ETFs
have seen inflows for eight straight days, totaling $896.6
million.
“ETF's have taken a positive turn since March 14th, and so has
$BTC and altcoins,” said market data
provider Santiment.
“This is the first streak of this length in
2025.”
As Cointelegraph reported,
digital asset investment products have also recorded weekly net
inflows for the first time in five weeks.
BTC price eyes key trendline to resume bull
market
Data from Cointelegraph
Markets Pro and TradingView
showed the BTC/USD trading at $88,265, up 1.2% over the last 24
hours. BTC price faces overhead resistance from the 20-weekly
exponential moving average (EMA), currently at $88,682.
Bitcoin price must flip this level into support to continue the
bull run. The chart below shows that breaching the 20-weekly
EMA has often preceded big rallies in Bitcoin price.
BTC/USD weekly chart. Source:
Cointelegraph/TradingView
Note that when BTC price crossed above this moving average in
October 2023, it rallied approximately 170% from $27,000 on Oct.
16, 2023, to set a new
all-time high above $73,000 on March 14, 2024.
Similar price action occurred when the price rose above the
20-weekly EMA in September 2024, preceding a 77%
rally from
$60,000 to $108,000 in December 2024.
Popular analyst Decode stressed the importance of this
trendline, saying that the moving
average is the “most important level right now for Bitcoin.”
Meanwhile, co-founder of trading resource Material Indicators,
Keith Alan, said that
Bitcoin has to reclaim the 2025 yearly open at around $93,300 to
confirm a path toward all-time highs.
This article does not
contain investment advice or recommendations. Every investment and
trading move involves risk, and readers should conduct their own
research when making a decision.
...
Continue reading Bitcoin must break this level to
resume bull market as $2.4B in BTC leaves exchanges
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Bitcoin must break this level to resume bull market
as $2.4B in BTC leaves exchanges appeared first on
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