Bitcoin’s $2.4 Billion Exodus: Bull Market on the Horizon?

A significant event shook the Bitcoin market on March 25th: over 27,740 Bitcoin (BTC), valued at a staggering $2.4 billion, were withdrawn from exchanges. This marked the highest daily outflow in seven months, sparking intense speculation about the future of Bitcoin’s price.

Simultaneously, a steady influx of capital into US spot Bitcoin exchange-traded funds (ETFs) suggests a resurgence of institutional interest. Could this be a precursor to a renewed bull run?

Bitcoin Exchange Outflows Reach Seven-Month High

Bitcoin’s recent attempt to break the $90,000 resistance level coincides with this substantial decrease in exchange supply. This suggests that large holders, or ‘whales,’ are accumulating Bitcoin, anticipating further price increases.

Analysis reveals that a considerable portion of these withdrawals originated from whales holding at least 1,000 BTC. On March 25th alone, these whales withdrew over 11,574 BTC, approximately $1 billion.

Reduced sell pressure, stemming from these high outflows and whale activity, is often interpreted as a bullish signal, potentially fueling price appreciation.

Related: Bitcoin, Ethereum Q1 2025 Performance: A Bleak Outlook?

Adding to the bullish narrative, Arkham Intelligence reported that a ‘billionaire Bitcoin whale’ added 2,400 BTC (over $200 million) to their holdings on March 24th. This whale, holding over 15,000 BTC, appears to be viewing recent price dips as buying opportunities.

Spot Bitcoin ETF Inflows Signal Institutional Confidence

Further bolstering the bullish sentiment is the persistent inflow of capital into spot Bitcoin ETFs. Since March 14th, these ETFs have witnessed eight consecutive days of inflows, totaling $896.6 million. Market data provider Santiment highlights this as a significant positive indicator.

“ETF’s have taken a positive turn since March 14th, and so has $BTC and altcoins. This is the first streak of this length in 2025.”

– Santiment

This positive trend in ETF flows, coupled with overall net inflows into digital asset investment products, signifies renewed institutional confidence in Bitcoin.

Bitcoin Price: A Critical Trendline for Future Growth

At the time of writing, BTC/USD is trading around $88,265. A key level to watch is the 20-weekly exponential moving average (EMA), currently at $88,682. Breaking above this EMA could trigger a substantial price rally, mirroring past price action.

Analysts emphasize the significance of this EMA, suggesting that reclaiming it is crucial for a sustained bull run. The yearly open at around $93,300 also represents a crucial resistance level.

Disclaimer: This article does not provide financial advice. All investments involve risk.