The net outflow of Bitcoin from exchanges last month indicates a shift in investor behavior towards accumulation. This conclusion was drawn by the analyst known as Darkfost.
📊It has been one month that BTC outflows from exchanges have largely dominated flows.
— Darkfost (@Darkfost_Coc) March 24, 2026
While BTC continues its liquidation phase, Netflow has remained negative for almost an entire month.
—> This persistent outflow suggests genuine accumulation by investors, who continue to buy… pic.twitter.com/3ASkuVyBXV
In March, outflows dominated exchanges, with a brief spike in deposits just before March 17, when the asset price reached a six-week high of $76,000.
Darkfost noted that the negative net flow persists despite the ongoing "liquidation phase."
"The constant outflow indicates real accumulation. Investors are buying coins and withdrawing them from platforms," he emphasized.
Typically, inflows to exchanges are seen as a bearish signal, often preparing for sales into stablecoins. Conversely, asset outflows often signal buying pressure.
The analyst added that demand is still insufficient to trigger a full rally. However, the current dynamics are a key factor in shaping the price range observed over the past few months.
Nick Rak, director of LVRG Research, confirmed that the capital outflow reflects long-term investor plans rather than speculative interest. Departures from centralized platforms demonstrate confidence in Bitcoin's fundamentals. Holders are not inclined to sell to hedge risks.
Jeff May, COO of BTSE exchange, pointed out that since the recent escalation of geopolitical tensions, cryptocurrencies have outperformed the stock market and gold.
"The market was oversold in previous weeks and months, so it hasn't dropped as sharply as stocks. This may indicate Bitcoin's establishment as a hedge against traditional equities and an increase in institutional ownership," May added.
In a report, Glassnode analysts noted a slight decrease in unrealized losses across the market. However, experts warned that investor sentiment remains under pressure despite "tentative signs of stabilization."
"Bull Trap"
The current market conditions resemble those seen in the $80,000-90,000 range, and any short-term rise may prove deceptive. This was stated by the CryptoQuant analyst known as Mignolet.
Current Market Conditions: A Sharp Departure from Zones 1 and 2
— CryptoQuant.com (@cryptoquant_com) March 25, 2026
“Various data points suggest that the conditions for a potential bottom are forming. However, the level of liquidity required to actually drive a trend reversal still appears insufficient.” – By @mignoletkr pic.twitter.com/LICDdgPnDY
The expert noted that the imbalance between supply and demand that emerged in mid-March has only worsened, and negative market dynamics have accelerated.
According to Mignolet, the current situation differs from previous correction phases, where tensions gradually eased. The market is now repeating the pattern observed at prices of $80,000-90,000.
Indicators suggest a potential bottom may be forming, but current liquidity is insufficient for a full trend reversal.
The analyst allowed for short-term price rebounds that could restore optimism among market participants. However, he warned that these movements are likely to be "bull traps."
Impact of the U.S. Diplomatic Plan
The price of Bitcoin has recovered above $71,000, gaining 0.6% in a day. The market is reacting to news of a "15-point peace plan" aimed at resolving the conflict in the Middle East. Details of the document are not disclosed, but it reportedly includes a section prohibiting Iran from developing nuclear weapons.
On a weekly basis, Bitcoin is still down 3.5%. However, the digital gold has maintained a level above $70,000 for the third consecutive day.
Senior analyst at FxPro, Alex Kuptsikevich, commented to CoinDesk on the stabilization of sentiment:
"Although the leading cryptocurrency has not transitioned to a sharp rise, its ability to hold current high levels indicates bullish confidence."
Brent crude oil fell by 5.24% to $94.98, dipping below $100 for the first time since mid-March.
Recall that on March 24, the analyst known as Sykodelic identified a condition for Bitcoin's price to rise to $200,000.