Bitcoin (BTC) price opened trading on March 25 above the $67,500 territory, following an 8% weekend recovery from a massive sell-off by Bitcoin ETFs. The recent bearish pressure on Bitcoin price led to increased volatility, with on-chain data suggesting more fluctuations in the near future.

Reasons behind the recent surge in Bitcoin price include rapid after-market purchases by US-based whale investors. Despite Bitcoin ETFs experiencing the largest weekly negative netflows ever, strategic whale investors took advantage of the price dip, leading to an 8.3% price bounce over the weekend.

The Coinbase Premium Index, which compares BTC prices on Coinbase Pro and Binance, shows that US-based whale investors drove buying activity, resulting in higher pricing on Coinbase. While this buying pressure pushed BTC price up, market metrics indicate potential volatility in the upcoming week.

With the 4th Bitcoin halving event approaching on April 20, long-term investors are making calculated moves to capitalize on potential price impacts. An unusual trend of long-term investors moving dormant BTC coins worth over $6.4 billion into circulation suggests a possible sell-off, leading to market volatility.

The surge in dormant BTC supply may exert sell-pressure on Bitcoin price, potentially hindering a rally above $75,000. Leveraged short positions around $68,400 could trigger intense downward pressure, but breaking above $70,000 could pave the way for a bullish trend towards $75,000.

In conclusion, while Bitcoin price has shown resilience with an 8% rebound, the presence of leveraged short positions and potential profit-taking orders suggest a cautious outlook for the market in the coming days. Stay informed and monitor market trends closely to make informed investment decisions in the volatile cryptocurrency space.

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