BTC is trading at $74,263 at press time, up 6.8% over the past seven days, as a streak of positive Bitcoin ETF inflows signals renewed institutional appetite. However, on-chain data tells a more cautious story about what retail investors are doing with the rally.
Bitcoin ETFs Log Seven Consecutive Days of Net Inflows
The SoSoValue chart tells a clear story. Bitcoin spot ETFs recorded $199.37 million in daily net inflows on March 17, marking the seventh consecutive day of positive flows. Total net assets across all Bitcoin ETFs now stand at $96.74 billion, a meaningful recovery from the lows seen in early March when outflows were dominating the picture.
The turnaround is significant. Through much of February and early March, ETF flows were inconsistent. They were swinging between sharp inflows and heavy redemptions.
The past seven trading days represent the most sustained run of positive institutional demand in weeks. This suggests that large players are quietly accumulating Bitcoin as the price approaches resistance near $75,000.
The institutional conviction is not limited to ETFs. Michael Saylor’s Strategy made its largest Bitcoin purchase of 2026 last week, acquiring 22,337 BTC for $1.57 billion at an average price of $70,194. And MSTR stock rallied over 4% on the news, tracking Bitcoin’s move higher.
Short-Term Holders Are Selling Into Every Bounce
However, the on-chain picture is more complicated. According to CryptoQuant data, the amount of Bitcoin sent to exchanges in profit by short-term holders just hit a yearly high. More than 48,000 BTC in profit were moved to exchanges in a single day as Bitcoin attempted to break above $75,000.
Short-term holders, typically defined as wallets holding Bitcoin for less than 155 days, are showing little confidence in a sustained breakout. Each rebound is being treated as an exit opportunity rather than a signal to add exposure. The current macro environment is pushing these investors to realise profits quickly rather than hold through volatility.
The pattern is one of two markets operating simultaneously. Institutional money, flowing through ETFs, is stepping in steadily. Retail and short-term participants, rattled by weeks of sideways price action and macro uncertainty, are using the strength to reduce exposure.
Meanwhile, the broader backdrop has shifted slightly in Bitcoin’s favour.
President Trump recently said that Iran has reached out over a deal, sending Bitcoin sharply toward $74,000 on the news. On the regulatory front, the SEC and CFTC jointly released a token taxonomy this week, explicitly classifying Bitcoin as a digital commodity and therefore a non-security.
The development removed a long-standing regulatory overhang and adds a layer of institutional confidence to the market.