Long-term Bitcoin demand climbed sharply over the past week as long-term holders increased accumulation while miner outflows cooled. CryptoQuant data show long-term accumulator addresses raised their holdings by about 48.5% in seven days, growing from roughly 138,000 BTC on March 23 to about 205,000 BTC on March 30, after a pullback from a March peak near 210,000 BTC. The increase occurred during a recent price decline, indicating these holders were actively absorbing available supply.
At the same time, miner selling eased. The Miners’ Position Index (MPI) 30-day moving average fell to -1.042, a level that signals miner outflows are well below the one-year average. Lower MPI values mean fewer newly mined coins are being sent into circulation, which reduces immediate sell-side pressure from that cohort.
Short-term exchange flows and sentiment tell a different story. Binance’s seven-day net taker flow swung negative, reaching about -$1.2 billion on Monday after showing a positive $3.28 billion on March 15, reflecting increased aggressive selling in derivatives markets. The Bitcoin Unified Sentiment Index also moved into negative territory at -62.9%, well below the -50 threshold and far under the near-neutral -2.42 reading from March 15. That index, which combines derivatives positioning, volatility and volume, points to sustained sell-side dominance when below zero. Still, its movement back from deeper extremes suggests some easing of fear and limited conviction on both sides, with trading activity closely tied to liquidity around the $75,000–$60,000 range.
The combined picture is one of divergent behavior across market participants: long-term holders accumulating and miners reducing outflows, while short-term traders on exchanges exert heavier sell pressure. This split in flows can limit how much Bitcoin reaches the market even as derivatives-driven selling affects short-term price action.
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