Bitcoin has seen sustained net outflows from exchanges throughout March, suggesting investors are accumulating the asset rather than preparing to sell.
CryptoQuant data showed only one spike in inflows before Bitcoin reached a six-week high of $76,000 on March 17, with outflows dominating the rest of the period.
“This persistent outflow suggests genuine accumulation by investors, who continue to buy and withdraw their BTC from exchange platforms,”
Said CryptoQuant analyst, Darkfost.
Analysts note that while demand is not yet strong enough to trigger a full bullish trend, the steady withdrawals indicate ongoing accumulation and may be contributing to Bitcoin’s current range-bound price action.
Nick Ruck, director at LVRG Research, said the trend reflects long-term positioning rather than short-term trading, highlighting growing confidence in Bitcoin’s fundamentals.
He added that investors moving BTC off exchanges signals reduced intent to sell, even amid market volatility and macro uncertainty.
Bitcoin has also shown early signs of trend formation, posting higher highs and higher lows this month, while onchain data points to a modest easing in unrealised losses despite sentiment remaining fragile.
At the time of reporting, Bitcoin price was $71,160.77.