Bitcoin is holding steady above $84,000 this week, even as U.S.-listed ETFs face major outflows. While some expected a price drop, the opposite seems to be happening: long-term holders are quietly accumulating.
$800M Pulled From Bitcoin ETFs — But Price Doesn’t Flinch
In the first half of April, over $800 million flowed out of Bitcoin ETFs, according to ETF.com. Even top players like BlackRock’s IBIT weren’t spared. Yet, Bitcoin’s price action has remained surprisingly resilient — holding firm near $84,500.
This trend suggests that while institutional money may be rotating or taking profits, underlying demand remains strong.
Over 15,000 BTC Withdrawn from Exchanges
According to well-known analyst Ali (@ali_charts), more than 15,000 BTC were withdrawn from exchanges over the past week — a clear sign of accumulation.
“Over 15,000 #Bitcoin have been withdrawn from exchanges in the past week!” — Ali, via X (April 18, 2025)
This aligns with data from CryptoQuant, which shows a steady decline in exchange reserves since April 10. Historically, such moves suggest that investors are shifting their BTC to long-term cold storage — a bullish signal for price action.
Technical Analysis: Bulls Hold $84K as BTC Eyes Breakout
Bitcoin continues to consolidate around the $84,000 mark, holding ground despite broader market uncertainty and ETF outflows. The daily chart shows a tight sideways range forming between $82,300 and $85,000, suggesting a phase of accumulation.
Volume has remained relatively low over the past few days, but the lack of selling pressure at key support levels is encouraging. The price is hovering just below a key resistance band at $85,300, which has acted as a ceiling since mid-April.
A breakout above this zone, backed by strong volume, could open the door to a new leg toward $88,000–$90,000, where the next cluster of liquidity sits. On the flip side, failure to hold $82,000 could lead to a quick retest of $79,500, though sentiment remains generally positive.
The RSI is neutral around 52, showing no immediate overbought or oversold conditions, while the MACD is beginning to curl upward — a potential sign that momentum is returning.
From a broader perspective, Bitcoin remains in a higher-low structure since the March dip, keeping the long-term uptrend intact. With exchange reserves dropping and accumulation increasing, this consolidation could serve as a launchpad rather than a top.
Governments Start to Stack Sats Too
Meanwhile, news broke this week that the U.S. government’s Strategic Bitcoin Reserve has surpassed 200,000 BTC, marking a turning point in institutional perception of crypto. Bitcoin is no longer just a hedge — it’s becoming a geopolitical asset.
Final Thoughts: Bitcoin’s Base Gets Stronger
Despite ETF outflows and cautious market sentiment, Bitcoin’s fundamentals remain intact. Exchange supply is down. Long-term holders are stacking. And governments are showing interest.
Bitcoin’s ability to stay above $84K shows that this market has matured. As attention shifts to long-term positioning, short-term volatility may be less important than who is quietly buying in the background.
Curious about where Bitcoin could go next? You can read our latest projection: Will Bitcoin Reach $100K Again in 2025?
