Bitcoin is holding above $70,000, but the move lacks strong follow-through. Data shows sell-side pressure has dropped sharply, with exchange depositing addresses hitting a 10-year low. However, sustained outflows from Bitcoin Spot ETFs totaling $283 million over two days indicate continued institutional selling, keeping momentum bearish.
Bitcoin has held above $70,000 for three consecutive days, showing slight bullish momentum boosted by eased global tension. At press time, it traded at $71,021 after a recent 0.93% daily drop.
Exchange Depositing Addresses have dropped to a 10-year low, according to data from Darkfost. Only 31,000 depositing addresses were active daily, signaling significantly reduced intent to sell.
Historically, such a sharp drop occurs during advanced bear market phases where interest has faded. As such, most traders have turned to silently avoid the market, awaiting other ideal conditions to reenter.
Bitcoin Spot ETFs have recorded $283 million in outflows over two days, a clear sign of aggressive selling by institutional investors. When large players sell high-value holdings, even reduced exchange deposits do little to boost performance.
The momentum indicator sits around -5957, while the DMI Modified has remained negative since October 2025, validating the trend’s strength. Thus, most investors have been disengaged, and those who are engaged are selling, thereby substantially stretching the market.
