Bitcoin reclaimed the $76,000 level, buoyed by strengthening supply dynamics. On-chain data indicates long-term holders are not selling their older coins, reducing available supply, while spot Bitcoin ETFs have seen six consecutive days of institutional inflows totaling nearly $969 million, supporting the price recovery.
Bitcoin briefly reclaimed the $76,000 level early Tuesday, extending its recovery momentum. This move is supported by a sustained slowdown in Bitcoin inflows to centralized exchanges, indicating reduced immediate selling intent.
Long-term holders have emerged as the dominant force behind improving fundamentals. Data from Alphractal tracking Coin Days Destroyed shows these holders have remained largely inactive, pushing holding behavior to a four-year extreme.
This reflects a clear shift in conviction: investors are opting to hold rather than distribute, typically a signal that expected returns outweigh current selling incentives. The Binary CDD, a supply-adjusted metric, confirms minimal distribution from these holders.
This tightening supply backdrop has coincided with a 12.84% price increase since March 9th. The broader supply conditions remain constructive, despite a recent rise in the Exchange Supply Ratio.
Bitcoin’s price has climbed alongside the ESR, diverging from typical behavior. This suggests exchange inflows may not be translating into immediate selling but rather a repositioning of supply.
Total Bitcoin held on exchanges continues to decline overall, limiting readily available liquidity for sell-offs. Sustained upside, however, depends on demand keeping pace with the tightening supply.
According to SosoValue, spot Bitcoin ETFs have recorded six straight days of net inflows since March 9th. These inflows total approximately $968.94 million, marking the longest accumulation streak so far in 2025.
This shift suggests renewed institutional participation and stronger conviction at current price levels. Continued inflows could provide the momentum needed to clear the $75,000 resistance zone.
