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Bitcoin Buying Picks Up Again, But $79,962 Remains The Key Resistance: On-Chain Data
🤖AI Summary
Bitcoin shows renewed buying interest after February's heavy selling, with exchange flows turning positive and ETF inflows recovering. However, the key resistance remains at $79,962 (the ETF cohort's realized price), where many institutional holders remain underwater and may sell to break even.
Key Takeaways
- →Bitcoin buying has resumed after February's institutional and retail selling pressure subsided.
- →Binance and Coinbase 30-day volume deltas shifted from deeply negative to positive territory.
- →US spot Bitcoin ETF flows recovered from -1,883 BTC/day to +1,472 BTC/day currently.
- →The critical resistance level of $79,962 represents the ETF cohort's breakeven point.
- →Bitcoin trades at $74,063, still 6.5% below institutional cost basis, creating potential selling pressure near $80,000.
#bitcoin#btc#etf-flows#on-chain-data#resistance-levels#institutional-demand#exchange-flows#market-analysis
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