Bitcoin’s market structure is showing a split signal: institutional demand 
through ETFs is accelerating, while short-term holders are still selling into 
exchanges at a loss. That divergence is helping explain why BTC has held up 
near the $70,000 area even as retail stress remains visible in on-chain data. 
In his latest Morning Brief, Axel Adler Jr. said US spot Bitcoin ETFs absorbed 
62,986 BTC over the past 30 days, equal to $11.3 billion in net inflows 
between February 24 and March 25. Over that stretch, cumulative ETF holdings 
rose to 1,326,874 BTC. The pace of buying also picked up materially. Adler 
said the 7-day simple moving average of ETF flows reached 3,288 BTC per day, 
versus 1,256 BTC for the 30-day average, meaning the current weekly pace is 
running about 2.6 times above the monthly trend. That institutional bid has so 
far outweighed episodic outflows and coincided with a move in Bitcoin’s price 
from $64,100 to $71,307 over the same month. Adler’s read is that ETF demand 
is providing a floor, but not a clean breakout signal on its own. For that to 
happen, he argued, the short-term flow trend needs to stay positive for 
several more sessions and the market still needs to avoid a fresh run of 
negative macro-driven ETF days. Related Reading: Analyst Who Predicted Bitcoin 
$125,000 Top Reveals What To Expect Next The other side of the picture is far 
less constructive. Adler said short-term holders remain firmly in a loss- 
realization regime, with loss-side flows to exchanges at 15,500 BTC per 24 
hours. Total short-term holder inflows to exchanges stood at 35,200 BTC per 
day, a sign that selling pressure remains active even if it has not yet 
reached the kind of extreme typically associated with final capitulation. 
Bitcoin STH Stress Eases But Whales Prevent Rally That broader stress signal 
is partly offset by a separate observation from Darkfost, who argued that 
panic behavior among newer holders has eased meaningfully since the February 
flush. He wrote: “When BTC fell below $60,000, a wave of panic emerged among 
the youngest investors (STHs), pushing them to send around 100,000 BTC (7-day 
sum) to Binance at the beginning of February. This behavior has evolved 
significantly, as these STH inflows to Binance have now been divided by four. 
Today, these inflows have reached their lowest recorded level, at around 
25,000 BTC.” That does not contradict Adler’s thesis so much as refine it. 
Retail stress is still there across exchanges, but the most acute panic phase 
may be fading. Darkfost framed the shift as “a rather positive signal,” adding 
that the drop in Binance inflows represents “a real reduction in selling 
pressure” during what he called a difficult period for risk assets. Related 
Reading: Bitcoin Recovery Lacks One Key Ingredient, Glassnode Warns Even so, 
order-book data suggests Bitcoin is not yet out of the woods on the upside. 
CoinGlass flagged “heavy sell wall at 72.3k–72.6k” and called it “key 
resistance on any bounce.” It also pointed to near-term bids around $69,200, 
stronger support at $68,200 to $68,500, and deeper liquidity around $67,000 to 
$67,500. In CoinGlass’s words, “This is a classic setup of heavy overhead 
supply with layered bids below. Unless BTC reclaims the major sell wall 
overhead, short-term price action still looks more likely to sweep lower 
liquidity first before staging a stronger bounce.” Taken together, the data 
points to a market where institutional accumulation is absorbing supply fast 
enough to steady price, but not yet force a decisive breakout. The 
constructive case is straightforward: ETF demand remains well above trend, 
panic selling among short-term holders continues to cool, and Bitcoin holds 
above $70,000. The risk is just as clear. If ETF flows roll over and the 
market fails to clear the $72,300-$72,600 sell wall, the next move could still 
be a sweep into lower liquidity before any stronger recovery takes shape. At 
press time, BTC traded at $69,573. Featured image created with DALL.E, chart 
from TradingView.com

Bitcoin ETFs Buy 63,000 BTC In 30 Days As Retail Panic Selling Persists

Binance is reportedly discussing an out-of-court settlement with Nigerian 
authorities to resolve its ongoing tax evasion case. The Multi-Billion Dollar 
Legal Dispute Top cryptocurrency exchange Binance has reportedly initiated 
talks with Nigerian authorities to resolve its ongoing tax evasion case 
through an out-of-court settlement. At a hearing before High Court Judge Emeka 
Nwite in Abuja, […]

Binance Seeks Out-of-Court Settlement in $2 Billion Nigerian Tax Case

Stretch shares are an on-ramp for people who believe Bitcoin will be around 
for the long term but can’t handle the near-term volatility, explained Michael 
Saylor.

80% of Strategy’s ‘Stretch’ buyers are mom-and-pop investors

David Sacks will lead a new tech-focused advisory group established by the 
White House, which will include key tech leaders like Nvidia’s Jensen Huang 
and Meta’s Mark Zuckerberg.

David Sacks’ 130-day term as Trump’s crypto and AI czar has ended

XRP price extended losses and traded below $1.40. The price is now 
consolidating losses but faces hurdles near $1.3750 and $1.40. XRP price 
started another decline and traded below the $1.40 zone. The price is now 
trading below $1.3880 and the 100-hourly Simple Moving Average. There is a 
bearish trend line forming with resistance at $1.3750 on the hourly chart of 
the XRP/USD pair (data source from Kraken). The pair could continue to move 
down if it stays below $1.40. XRP Price Extends Losses XRP price failed to 
stay above $1.4120 and extended its decline, like Bitcoin and Ethereum. The 
price declined below $1.40 and $1.3880 to enter a short-term bearish zone. The 
price even extended losses below $1.3750. A low was formed at $1.3358, and the 
price is now consolidating losses below the 38.2% Fib retracement level of the 
downward move from the $1.4372 swing high to the $1.3358 low. The price is now 
trading below $1.40 and the 100-hourly Simple Moving Average. If there is a 
fresh recovery move, the price might face resistance near the $1.3750 level. 
There is also a bearish trend line forming with resistance at $1.3750 on the 
hourly chart of the XRP/USD pair. The first major resistance is near the 
$1.3850 level or the 50% Fib retracement level of the downward move from the 
$1.4372 swing high to the $1.3358 low. The main resistance could be $1.40. A 
close above $1.40 could send the price to $1.4120. The next hurdle sits at 
$1.4380. A clear move above the $1.4380 resistance might send the price toward 
the $1.450 resistance. Any more gains might send the price toward the $1.4650 
resistance. The next major hurdle for the bulls might be near $1.50. Another 
Decline? If XRP fails to clear the $1.40 resistance zone, it could start a 
fresh decline. Initial support on the downside is near the $1.350 level. The 
next major support is near the $1.3350 level. If there is a downside break and 
a close below the $1.3350 level, the price might continue to decline toward 
$1.3220. The next major support sits near the $1.3150 zone, below which the 
price could continue lower toward $1.30. Technical Indicators Hourly MACD – 
The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI 
(Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $1.3500 and $1.3350. Major Resistance Levels – $1.3850 
and $1.4000.

Cryptocurrency price in ILS