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BTC $76,648.67 -0.43%
ETH $2,088.59 -0.36%
BNB $658.11 +0.19%
XRP $1.34 -0.68%
SOL $84.07 -1.12%
TRX $0.3739 +2.52%
DOGE $0.1006 -1.58%
ADA $0.2403 -0.43%
BCH $345.50 +0.02%
LINK $9.39 -0.40%
HYPE $59.64 -2.74%
AAVE $85.39 -0.10%
SUI $1.02 -0.32%
XLM $0.1480 +0.42%
ZEC $629.11 -4.04%

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Analysis: The net inflow to trading platforms and the outflow of ETFs have created a potential selling pressure of 34,000 BTC. Bitcoin still needs spot buying support if it is to challenge the $80,000 mark

Cryptocurrency analyst Axel Adler Jr. stated that although BTC recently regained the $77,000 level, the net inflow to trading platforms and the continuous outflow from spot ETFs still exert localized selling pressure on the market. Data shows that in the past week, the net inflow of BTC to exchanges was about 18,000 BTC, indicating that more BTC is being transferred to trading platforms in preparation for selling. At the same time, the net outflow from U.S. spot Bitcoin ETFs during the same period was about 16,000 BTC. The combined data creates a potential selling pressure of approximately 34,000 BTC.Glassnode data also shows that the daily trading volume of spot BTC ETFs has fallen below $20 billion, having once exceeded $50 billion by the end of 2025, reflecting a cooling of speculative demand from traditional financial channels. However, market sentiment has recently warmed due to improved expectations for a peace agreement between the U.S. and Iran. BTC quickly rebounded to around $77,800 after dropping below $75,000.Derivatives data indicates that this round of price increase was mainly driven by short covering. The total open interest (OI) of BTC slightly rebounded from about 268,000 BTC to 250,000 BTC, and the funding rate also cooled down, indicating a decrease in the crowding of leveraged long positions. Analysts believe that if BTC wants to further challenge the $80,000 mark, it still needs both spot demand and open interest to grow in sync.
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