NEW: đşđ¸ #Bitcoin ETFs bought $917 million worth of BTC yesterday, bringing total inflows to $2.2 billion this week.
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Bitcoin Sees Largest Exchange Outflow Since Feb 2023 â Re-Accumulation Underway?
Source Bitcoinist
24 Apr 2025 19:00
Bitcoin is gaining momentum once again, breaking above the $93,000 level and signaling renewed strength in the market. After weeks of volatility and hesitation, bulls appear to be in control as the leading cryptocurrency pushes toward new local highs. However, the path ahead remains challenging as macroeconomic tensions persistâparticularly the escalating trade conflict between the United States and China. These global uncertainties continue to rattle investor sentiment across traditional and crypto markets.
Despite this hostile backdrop, Bitcoinâs technical and on-chain structure looks increasingly bullish. A decisive breakout above the $100,000 level is now the next major target, and reaching it could mark the beginning of a significant upward cycle. According to data from CryptoQuant, the 100-day moving average of Bitcoin netflow from exchanges has dropped to its lowest level since February 2023. This means more BTC is being withdrawn from exchanges than deposited, typically a strong signal of investor confidence and long-term holding behavior.
As outflows reach multi-year highs, itâs clear that many market participants are reducing sell-side pressure and preparing for what could be the next leg of a major rallyâif key resistance levels are successfully broken in the coming days.
Credits : mitrade and bitcoinmarkets
