Bitcoin Faces Supply Resistance as Institutional Demand Remains Strong
- Bitcoin’s price has increased from around $71,000 to the mid-$70,000s, driven by macro flows and institutional demand.
- U.S.-listed spot bitcoin ETFs saw inflows of approximately $240 million in a single session amid geopolitical tensions.
- On-chain data indicates that supply is emerging as prices approach a key resistance level at around $76,800, the realized price for recent buyers.
- Exchange inflows spiked to about 11,000 BTC per hour, the highest rate since late December.
- The average deposit size rose to approximately 2.25 BTC, indicating larger holders are actively participating in the market.
The current market dynamics show a dual pressure where ETF inflows provide consistent demand while large holders appear to be reducing their exposure as prices near critical resistance levels. This behavior suggests a potential struggle for Bitcoin to maintain its upward momentum without sufficient demand absorbing the growing supply.
As Bitcoin tests the $75,000 to $76,000 range with significant exchange activity noted at roughly 11,000 BTC per hour, its ability to sustain gains will depend on whether new holders can absorb sell pressure effectively.
