Bitcoin holds $70K, bringing spot ETF buyers close to breakeven: Is the bull market back?
Why it matters: ETF investors near breakeven, boosting demand and paving the way for a potential $80k breakout.
- Bitcoin stays above $70,000, acting as support for spot‑ETF investors (multiple sources)
- Axel Adler Jr. reports ETF inflows turning positive, with holdings up 26,636 BTC to 1,291,618 BTC
- Darkfost notes the 30‑day volume delta on Binance and Coinbase has flipped to net buying after February sell pressure
- Amr Taha highlights Binance’s cumulative volume delta rebounding by nearly $6 billion, signaling aggressive market buying
- CryptoQuant shows the spent‑output profit ratio (SOPR) back above 1, indicating coins are trading at or above cost
- miracleyoon says recent capitulation cleared weak hands, easing selling pressure and supporting the price rally
Bitcoin’s hold above $70k narrows the gap to the average spot‑ETF cost basis (~$79.9k) while on‑chain and exchange data show a shift from selling to buying, pointing to a possible resurgence of a long‑term uptrend.
