Bitcoin (BTC) needs to break through the key resistance level to restart the bull run - $2.4 billion worth of Bitcoin flowed out of the exchange in a single day.

Source: Cointelegraph Original: "Bitcoin (BTC) must break through key resistance levels to restart the bull market - $2.4 billion in Bitcoin flows out of exchanges in a single day"

More than 27,740 bitcoins (BTC) (worth $2.4 billion) were withdrawn from exchanges on March 25, marking the largest single-day outflow since July 31, 2024. Meanwhile, U.S. spot Bitcoin ETFs continue to see net inflows, indicating that institutional demand is recovering.

Is the Bitcoin bull market about to restart?

The outflow of Bitcoin from exchanges has reached a seven-month high. As the supply on exchanges continues to decrease, Bitcoin is attempting to break through the technical barrier of $90,000.

Bitcoin: Net flow to exchanges Source: Glassnode

In-depth analysis of the data shows that a significant portion of these withdrawn funds comes from whales (entities holding at least 1,000 bitcoins), who withdrew over 11,574 bitcoins from the exchange on March 25, worth approximately $1 billion.

Bitcoin whales are withdrawing funds from exchanges Source: Glassnode

The large outflow of Bitcoin from exchanges, especially the withdrawal by big whales, alleviates selling pressure, which usually indicates accumulation and bullish sentiment, potentially driving prices up.

In addition, blockchain analytics firm Arkham Intelligence noted that a "billionaire Bitcoin whale" increased its holdings by 2,400 Bitcoins worth over $200 million on March 24. Despite some sell-offs in February, this whale currently holds more than 15,000 Bitcoins.

The giant whale started buying Bitcoin five days ago, after previously selling when Bitcoin prices were between 100,000 and 86,000 dollars in February. This may indicate that these large investors see the recent lows as a buying opportunity, expecting prices to rise in the future.

The fund flow of spot Bitcoin ETF has shown a "positive shift".

Another sign indicating that major investors are buying Bitcoin again is the continuous inflow of funds into spot Bitcoin ETFs since March 14. Spot Bitcoin ETFs have recorded net inflows for eight consecutive days, totaling $896.6 million.

Market data provider Santiment stated: "Since March 14, there has been a positive shift in ETFs, as well as in Bitcoin and altcoins."

"This is the first time in 2025 that such a long continuous inflow period has appeared."

As Cointelegraph reported, digital asset investment products recorded weekly net inflows for the first time in five weeks.

Bitcoin price focuses on key trend lines to restart the bull market

Cointelegraph Markets Pro and TradingView data show that the BTC/USD trading price is $88,265, up 1.2% in the last 24 hours. The price of Bitcoin is facing resistance above the 20-week Exponential Moving Average (EMA), which is currently at $88,682.

Bitcoin prices must turn this level into support in order to continue the bullish trend. The chart below shows that breaking above the 20-week moving average often indicates a significant rise in Bitcoin prices.

Bitcoin/USD weekly chart Source: Cointelegraph / TradingView

It is worth noting that when the Bitcoin price broke above that moving average in October 2023, it rose by approximately 170% from $27,000 on October 16, 2023, reaching a new high of over $73,000 on March 14, 2024.

A similar price action occurred when the price breached the 20-week EMA in September 2024 and subsequently rose 77% from $60,000 to $108,000 in December 2024.

Analyst Decode emphasized the importance of this trend line, stating that the moving average is "the most important level for Bitcoin at the moment."

At the same time, Keith Alan, co-founder of the trading resource platform Material Indicators, stated that Bitcoin needs to regain its opening price of about $93,300 in 2025 to confirm the path to a new historical high.

This article does not contain investment advice or recommendations. Every investment and trade involves risks, and readers should conduct their own research when making decisions.

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