On March 25, Bitcoin (BTC) saw a significant turnaround, with over 27,740 BTC, valued at approximately $2.4 billion, withdrawn from exchanges. This unprecedented daily outflow marks the highest level since July 31, 2024. As institutional demand appears to resurge, bolstered by continued inflows into U.S. spot Bitcoin exchange-traded funds (ETFs), questions arise: Is a renewed Bitcoin bull run on the horizon?
Bitcoin Exchange Outflows Achieve New Milestone
Bitcoin is striving for a technical breakthrough above $90,000, amid a dwindling supply on exchanges. Detailed metrics reveal that significant withdrawals are predominantly executed by ‘whales’—entities that possess at least 1,000 BTC. On the same day, more than 11,574 BTC, equating to roughly $1 billion, were removed from exchanges by these large holders.
Bitcoin: Net flow to exchanges. Source: Glassnode
Such elevated outflows and whale activities signal a reduction in sell pressure, frequently indicative of an accumulation phase and positive market sentiment—factors that could catalyze a price increase.
Related: Bitcoin, Ethereum to end Q1 in the red, ‘vertical swing up’ unlikely
In notable news, Arkham Intelligence reported the activity of a billionaire Bitcoin whale who purchased an additional 2,400 BTC, worth over $200 million, just a day prior. Despite some selling off in February, this whale now maintains a stake of over 15,000 BTC, having recognized the recent lows as an opportune moment for acquisition, suggesting that larger investors expect prices to rebound.
Spot Bitcoin ETF Inflows Show Positive Trajectory
Another strong indicator of renewed interest from institutional investors is the uptick in capital flowing into spot Bitcoin ETFs, with inflows lasting for eight consecutive days since March 14, totaling $896.6 million. Market data provider Santiment noted that this marks the first extended streak of positive inflows in 2025.
“ETF’s have taken a positive turn since March 14th, and so has $BTC and altcoins,” stated Santiment.
Furthermore, Cointelegraph has reported an encouraging trend in digital asset investment products, which posted weekly net inflows after five weeks of previous losses.
BTC Price Aims for Key Resistance Breakthrough
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD is currently trading at $88,265, reflecting a 1.2% increase over the past 24 hours. The critical challenge for Bitcoin now lies in overcoming resistance posed by the 20-week exponential moving average (EMA), currently at $88,682. For Bitcoin to forge ahead with its bull run, this level must be converted from resistance to support.
BTC/USD weekly chart. Source: Cointelegraph/TradingView
Historical analysis indicates that when BTC crossed this moving average in October 2023, it initiated a remarkable 170% increase, from around $27,000 to a new all-time high surpassing $73,000 by March 14, 2024. Similar trends were seen in September 2024 when crossing the EMA led to a 77% rally.
Market analyst Decode has emphasized the importance of this trendline, reiterating that it is the “most important level right now for Bitcoin.” Meanwhile, Keith Alan, co-founder of Material Indicators, has indicated that reclaiming the 2025 yearly open, roughly around $93,300, is crucial for Bitcoin to confirm a trajectory towards new all-time highs.
This article does not constitute investment advice or endorsements. Every investment decision carries risk; readers are encouraged to conduct their own research.
