Bitcoin pinned under $72K as on‑chain metrics show weakening demand; hash rate and miner signals raise sell‑pressure risk

first published 2026-03-25T05:50:51Z

CryptoQuant data show consistent net outflows of Bitcoin from exchanges through March (except a pre‑March 17 inflow spike before BTC reached ~ $76,000). Analysts including Darkfrost interpret the outflows as genuine long‑term accumulation—removals from centralized platforms reflecting increased confidence and reduced selling interest. Commentators say this on‑chain behavior may support range formation and enable trend development if price begins making higher highs and higher lows. Glassnode notes a slight improvement in net unrealized profits but warns overall sentiment remains pressured.

AI Analysis

CryptoQuant shows persistent net outflows from exchanges through March (aside from a pre‑March 17 inflow spike). Analysts interpret these outflows as long‑term accumulation and reduced selling interest. Commentators link the flows to potential range formation and trend development; Glassnode reports only a slight improvement in net unrealized profits and says sentiment is still pressured. These facts support a mildly bullish view but limited immediate trading conviction.

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