Bitcoin ETFs Absorb Over $11 Billion Amid Retail Selling Pressure
- US spot Bitcoin ETFs absorbed 62,986 BTC from February to March, totaling $11.3 billion in net inflows.
- Cumulative ETF holdings rose to over 1.32 million BTC during this period.
- Short-term holders are selling approximately 35,200 BTC daily into exchanges at a loss.
- Panic selling by short-term holders has decreased significantly since early February.
- BTC faces resistance at $72,300-$72,600 with strong support around $68,200-$68,500.
Institutional demand through Bitcoin ETFs is providing stability in the market despite ongoing retail stress and selling pressure from short-term holders. The substantial ETF inflows have helped maintain Bitcoin’s price near the $70,000 mark even as retail panic subsides.
While institutional accumulation is absorbing supply rapidly enough to steady prices, Bitcoin must overcome significant sell walls to initiate a breakout above its current range. (Source)
