Crypto analytics firm Santiment reports that Bitcoin whales holding between 10 and 10,000 BTC have sold around 66% of the coins they accumulated between Feb. 23 and Mar. 3, after prices briefly touched $74,000 this week. While retail holders with less than 0.01 BTC have been buying the dip below $70,000, Santiment and other analysts warn the correction could continue, especially after a $348.9 million outflow day from US spot Bitcoin ETFs and a plunge in sentiment to "Extreme Fear."

According to on-chain data shared by CryptoQuant community analyst Maartunn on X, Bitcoin’s Exchange Whale Ratio 30-day simple moving average has climbed to 0.6 after a sharp rise during the latest price pullback. The ten largest deposit transactions now account for 60% of total exchange inflows, signaling that large holders may be exerting selling pressure while BTC trades near $68,400. The Bitcoin Inter-exchange Flow Pulse has also flipped back above its 90-day moving average, hinting at a recovery in derivatives-related activity.

On 7 March 2026, investor Wei Zhao outlined a scenario in which Bitcoin could reach $500,000 by year-end, driven by autonomous AI agents using crypto rails. Coinbase's agentic wallets, Circle's nano-payments for USDC, and SpaceX's reported 8,300 BTC holdings are cited as evidence of emerging infrastructure and institutional positioning. Other analysts argue that significant AI-driven transaction volumes and a $500,000 Bitcoin price are more plausible closer to 2030, noting current market levels near $70,000–$71,000.

In October 2025, Bitcoin's pullback from $126,000 coincided with a sharp rise in BTC sales from public miners, who have offloaded over 15,000 BTC as hashprice fell below $30 per PH/s. CleanSpark exemplified this shift in February by selling 553 of 568 BTC mined, helping drive its holdings down from 13,513 BTC to 13,363 BTC amid expanding operational capacity. These moves are increasing sell-side supply and echo elements of past miner capitulation phases, even as indicators like Hash Ribbons start to turn constructive.

Bitcoin is attempting to reclaim the $70k zone after six consecutive weekly declines, with its first green weekly candle showing gains of over 7%. Derivatives open interest has climbed by nearly $4 billion to $46.8 billion, while a negative long/short ratio suggests growing short bias near resistance. At the same time, BlackRock has accumulated 4,172 BTC worth $303 million since 24 February, contributing to a total net inflow of $1.58 billion BTC and reinforcing $70k as a key accumulation area.

Bitcoin's jump to $74,050 on Thursday quickly attracted selling as short-term holders moved more than 27,000 BTC in profit to exchanges over the past 24 hours. On-chain metrics cited by CryptoQuant contributors show that investors who bought within the last one to four weeks, around a realized price near $68,000, are realizing gains instead of holding, adding fresh supply near the range highs. Separate analysis highlights repeated failed breakouts above resistance near $71,000, where recent deviations have been followed by sharp pullbacks.

Bitcoin is trading around the $70,000 mark after rebounding from late-February lows near $63,000 and briefly touching the $74,000 area. On-chain data cited by analyst Axel Adler shows a single-day outflow of about 31,900 BTC from exchanges on March 4, alongside roughly 47,700 BTC leaving platforms over seven days. Stablecoin netflows indicate that around $1.1 billion entered exchanges in early March before flipping to about -$37.5 million, suggesting capital was rapidly deployed into spot Bitcoin purchases and moved to long-term custody.

Bitcoin climbed to a one-month peak of $74,000 on Thursday, supported by renewed US buying interest reflected in a sharply higher Coinbase Bitcoin Premium. The move, which coincided with ETF inflows, quickly reversed as the price slipped back below $71,000 by Friday and CryptoQuant's Bull Score Index stayed at 10/100, signaling a continued bear market. Analysts also cited macro uncertainty and upcoming economic data as reasons any optimism remains constrained.