Bitcoin Drops Below $68K but Long-Term Holder Buying Accelerates
The post Bitcoin Drops Below $68K but Long-Term Holder Buying Accelerates appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) dropped toward $67,000 during the European trading session on Friday despite an increase in long-term buying. Exchange withdrawals also increased to 16-month highs, suggesting reduced “immediate selling pressure,” a new analysis said. Key takeaways: Bitcoin withdrawals from exchanges increases, reducing BTC available for sale. Long-term holders accelerate accumulation, adding 155,450 BTC over the past 30 days. Bitcoin analysts view $65,000–$66,000 as a potential support zone for a bounce. Bitcoin supply tightens as long-term buying accelerates CryptoQuant’s exchange flow data highlighted “renewed signs of supply tightening,” as large Bitcoin withdrawals continue across major exchanges. The chart below shows that investors withdrew nearly $1.6 billion of BTC from Bitfinex on March 16, as shown by the orange bar in the chart below. Related: Bitcoin floor ‘near $70K’ as TradFi returns: Will war, inflation break their belief? Since then, the trend has expanded across other major exchanges, with a $678 million withdrawal from OKX on Sunday, a $728 million withdrawal from Kraken on Monday, and another $400 million in BTC leaving Binance on Wednesday. “This pattern suggests that the latest wave of withdrawals is no longer isolated to one platform,” CryptoQuant analyst Amr Taha said in his latest QuickTake analysis. Bitcoin exchanges netflow, $. Source: CryptoQuant The figures support the latest data showing Bitcoin whales and sharks have been accumulating over the last two months, a pattern that could trigger an eventual breakout from the range. Other data also reflects an accumulation phase, as long-term holders (LTHs), investors who have held Bitcoin for more than 155 days, ramped up buying. The LTH net position change has been positive since March 5, as about 155,450 BTC has been bought over the past 30 days. In other words, holders are buying more on the dips, including the latest one below $68,000. Bitcoin: LTH…
Filed under: News - @ March 28, 2026 2:24 am