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Bitcoin climbed above $73,700 following a strong week and a breakout that shifted attention back to nearby resistance. The move brought BTC back to levels that placed $74,300 and $75,100 in focus.
Moreover, ETF inflows and rising exchange outflows have helped support the advance, while momentum signals suggest the rally could face pressure as it nears those levels.
Bitcoin price rose about 11% over the past seven days and broke above a consolidation range that had held since early February. That move also pushed BTC above its 50-day exponential moving average near $72,800. The break added strength to the near-term trend and put the next upside target near $78,000.
The target comes from the breakout structure on the chart. Analysts often project a target by taking the size of the pattern and extending it upward from the breakout point. In this case, that calculation places Bitcoin near the $78,000 region, with the $78,000 to $79,000 zone standing out as the next major area on the upside.
Price action near resistance, however, has shown that the path may not be smooth. Candles formed after the breakout carried repeated upper wicks near $74,300, a sign that sell orders remain active in that area. Bitcoin now needs a firm move above that level to build stronger momentum toward $75,100.
That second resistance level may prove more important for the short-term structure. A daily close above $75,100 would strengthen the breakout case and leave the door open for a broader push higher.
If the move loses pace, support sits near $72,600, followed by $70,900. A drop toward $68,800 or $68,900 would weaken the current setup and place the breakout under pressure.
Institutional demand has added support to the latest move. Data from SoSoValue shows that US-listed spot Bitcoin ETFs recorded about $767.33 million in net inflows last week. That marked the third straight week of positive flows and followed roughly $568.45 million in the previous week. The steady pace of inflows shows that large investors remained active as Bitcoin moved higher.
ETF demand has arrived alongside tighter exchange supply. Santiment data shows that the percentage of Bitcoin held on exchanges has fallen to its lowest level since November 2017. When fewer coins sit on exchanges, the supply available for immediate sale declines. That trend often gives rallies more support when demand remains firm.
Exchange flow data tells a similar story. The exchange net position change stood near -38,412 BTC on March 9 and fell to about -65,393 BTC by March 15. That move points to a notable rise in exchange outflows over the period. More coins left exchanges while Bitcoin price climbed, which suggests holders preferred to move assets into storage rather than prepare them for sale.
Also Read: Polymarket Sees Bitcoin at US$55K as Fear and Outflows Build
Money flow data shows a more restrained signal. The Chaikin Money Flow remained above zero, which means capital continued to enter Bitcoin. At the same time, the indicator moved lower while BTC price moved higher. That divergence can appear when buying pressure starts to lose force near resistance.
The derivatives market also reflects restraint. Open interest in Bitcoin futures fell from about $26.14 billion on March 5 to around $22.78 billion by March 16, while BTC price advanced. Funding rates also turned slightly negative. That pattern shows the rally has not relied on aggressive long positioning, which reduces the risk of a sharp liquidation event during short-term pullbacks.
