Bitcoin’s $73K Surge: Whale Inflows Plummet-Is a New Bull Run Coming?

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Whale Inflows Hit a 10-Month Low as <a href="https://jpyeur.com/btc-usd/">Bitcoin</a> Pushes to $73K

On April 10th, Bitcoin’s price recovered to above $73,000, hitting $73,004 on Binance, following the release of March’s inflation data. The 50-day Simple Moving Average is currently at $71,693 and trending upwards, providing support as the price has remained comfortably above it since rebounding from $70,800 on April 9th. The Relative Strength Index (RSI) is at 61.67, with its signal line at 56.15, indicating positive momentum that isn’t yet overextended.

The chart looks constructive. The derivatives data is where things get interesting.

Open interest is spiking and not all of it looks bullish

Data from CryptoQuant shows a significant increase in futures trading activity across major exchanges over the last day. Binance saw open interest rise by $350 million, marking its highest weekly increase since March 20th. Bybit added $299 million, and OKX increased by $200 million. This represents a large influx of new leveraged positions into the market in a short period.

The key issue lies in what the trading volume chart reveals. On Binance, while interest in the market increased, the actual buying activity didn’t rise at the same rate. This difference is significant. When more traders are opening positions without a corresponding surge in buying, it suggests they’re more likely betting *against* the price increase, rather than supporting it.

It does not mean the rally is fake. It means it has skeptics with real money behind them.

Whales are pulling back

Recent changes in large Bitcoin holders’ activity, often called “whales,” are noteworthy. The amount of Bitcoin these large holders are depositing into Binance has decreased significantly. Currently, the 30-day rolling average is under $3 billion – the lowest it’s been since June 2025. For comparison, this number was over $8 billion earlier in the year, indicating that large holders are sending much less Bitcoin to Binance now than they were a few weeks ago.

This situation has two possible interpretations. Fewer coins being available on exchanges usually helps prices go up, as it means less is being offered for sale. However, it also suggests that the biggest investors aren’t as active right now, which is significant, especially when prices are trying to break through recent peaks.

Looking at the overall market, long-term Bitcoin holders appear more confident. They’ve collectively realized a profit of around $49 billion over the last 30 days – the highest amount since mid-2025. However, short-term holders (those who bought recently) are still generally selling into price increases, indicating they haven’t fully recovered from recent purchases.

Those with less confidence are selling, while more confident investors are buying. This pattern usually leads to prices going up eventually, but it typically takes time.

Two scenarios from here

If the market forces traders who bet against Bitcoin to close their positions – likely if the price stays above $72,000 – the price could rise to $73,500 or higher, creating a positive cycle. Additionally, less Bitcoin entering exchanges from large holders reduces the available supply, while long-term investors continuing to buy provides a solid base of support.

If trading activity suggests a genuine shift and the price stops rising, the $71,693 Simple Moving Average will likely act as initial support. If the price falls below that, a large amount of recent open interest could accelerate a decline, with $70,800 offering the next significant support level.

The RSI at 61.67 gives room in both directions. Nothing is overextended. Nothing is broken.

The price of Bitcoin has risen back to $73,000. Now, whether it stays at this level depends on if traders who bet against it (short sellers) are correct, or if their positions will actually push the price even higher.

This article is for informational purposes only and shouldn’t be considered financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Before making any investment choices, please do your own research and talk to a qualified financial advisor.

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2026-04-10 20:56