More than 27,740 BTC, worth 2.4 billion USD, were withdrawn from exchanges on March 25, marking the largest daily outflow volume since July 31, 2024.
Meanwhile, spot Bitcoin ETF funds in the US continue to maintain a flow of incoming capital, indicating that institutional demand is returning.
So, is Bitcoin ready for a new price surge?
BTC outflow from exchanges reaches a 7-month high
Bitcoin is striving to technically break above the 90,000 USD mark as supply on exchanges continues to decline.
Net flow of Bitcoin into exchanges | Source: GlassnodeData shows that a significant portion of these BTC withdrawals comes from whales – the giants holding at least 1,000 BTC. Specifically, on March 25, whales withdrew over 11,574 BTC, worth about 1 billion USD, from exchanges.
The amount of BTC withdrawn from exchanges by whales | Source: GlassnodeThe amount of BTC leaving exchanges at a high level – especially from whales – often reduces selling pressure, indicating accumulation and an optimistic sentiment, which can push the price of Bitcoin higher.
In addition, the blockchain analytics company Arkham Intelligence noted that a "billionaire whale" purchased an additional 2,400 BTC, worth over 200 million USD, on March 24. Although it sold a certain amount of BTC in February, this address currently holds over 15,000 BTC.
This whale began buying 5 days ago, after taking profits in the range of $86,000 to $100,000 in February. This could indicate that large investors see the recent price levels as a buying opportunity before Bitcoin rises higher.
The flow of capital into spot BTC ETFs shows "positive changes"
Another sign that large investors are returning to BTC is that capital continues to flow into spot Bitcoin ETFs since March 14, with a total value reaching 896.6 million USD over 8 consecutive days.
"The ETF has shown positive signs since March 14, and the same is happening with Bitcoin and altcoins... This is the longest capital inflow streak in 2025 so far," according to a report from market data provider Santiment.
Bitcoin ETF Chart | Source: SantimentAccording to a previous report, digital asset investment products also recorded a positive weekly net inflow for the first time in 5 weeks.
BTC needs to surpass the important price level to continue the bullish market
At the time of writing, the price of BTC is fluctuating around 87,760 USD, down 0.2% in the past 24 hours. Bitcoin is facing a significant resistance level from the 20-week EMA, currently at 88,682 USD.
For the bull market to continue, Bitcoin needs to turn this level into a support zone. The chart below shows that whenever BTC rises above the 20-week EMA line, a strong bullish rally usually occurs.
BTC/USD weekly chart | Source: TradingViewFor example, when BTC broke above the 20-week EMA in October 2023, it surged 170%, from $27,000 on October 16, 2023, to an all-time high of over $73,000 on March 14, 2024.
Similarly, in September 2024, BTC also broke through this moving average, paving the way for a 77% increase, from $60,000 to $108,000 in December 2024.
Decode analysts emphasize the importance of this moving average, calling it "the most crucial level for Bitcoin right now."
Meanwhile, Keith Alan, co-founder of the trading analytics platform Material Indicators, believes that Bitcoin needs to reclaim the opening level of 2025 at around 93,300 USD to confirm an upward trend and move towards new highs.
Disclaimer:This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.
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Bitcoin needs to surpass this level to maintain its upward momentum as 2.4 billion USD leaves the exchange.
Meanwhile, spot Bitcoin ETF funds in the US continue to maintain a flow of incoming capital, indicating that institutional demand is returning.
So, is Bitcoin ready for a new price surge?
BTC outflow from exchanges reaches a 7-month high
Bitcoin is striving to technically break above the 90,000 USD mark as supply on exchanges continues to decline.
In addition, the blockchain analytics company Arkham Intelligence noted that a "billionaire whale" purchased an additional 2,400 BTC, worth over 200 million USD, on March 24. Although it sold a certain amount of BTC in February, this address currently holds over 15,000 BTC.
This whale began buying 5 days ago, after taking profits in the range of $86,000 to $100,000 in February. This could indicate that large investors see the recent price levels as a buying opportunity before Bitcoin rises higher.
The flow of capital into spot BTC ETFs shows "positive changes"
Another sign that large investors are returning to BTC is that capital continues to flow into spot Bitcoin ETFs since March 14, with a total value reaching 896.6 million USD over 8 consecutive days.
"The ETF has shown positive signs since March 14, and the same is happening with Bitcoin and altcoins... This is the longest capital inflow streak in 2025 so far," according to a report from market data provider Santiment.
BTC needs to surpass the important price level to continue the bullish market
At the time of writing, the price of BTC is fluctuating around 87,760 USD, down 0.2% in the past 24 hours. Bitcoin is facing a significant resistance level from the 20-week EMA, currently at 88,682 USD.
For the bull market to continue, Bitcoin needs to turn this level into a support zone. The chart below shows that whenever BTC rises above the 20-week EMA line, a strong bullish rally usually occurs.
Similarly, in September 2024, BTC also broke through this moving average, paving the way for a 77% increase, from $60,000 to $108,000 in December 2024.
Decode analysts emphasize the importance of this moving average, calling it "the most crucial level for Bitcoin right now."
Meanwhile, Keith Alan, co-founder of the trading analytics platform Material Indicators, believes that Bitcoin needs to reclaim the opening level of 2025 at around 93,300 USD to confirm an upward trend and move towards new highs.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.
Justin
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