Bitcoin Surges Above $68,000 as Corporates Net Buy 62,000 BTC
Bitcoin climbed above $68,000, ending a five-month losing streak and testing resistance after historic declines. Corporate entities net purchased approximately 62,000 BTC in Q1, led by Strategy’s acquisition of over 88,000 BTC, reshaping supply as whale selling pressure persists.
1. Bitcoin Ends Historical Losing Streak
Bitcoin rose above $68,000, snapping its longest-ever five-month decline and pushing into new resistance levels. While the rally marks relief from prolonged downside, on-chain data still warns of potential retests of $60,000 lows.
2. Corporate Buyers Accumulate 62,000 BTC
Public companies added about 62,000 BTC net during the first quarter, with Strategy leading acquisitions by purchasing over 88,000 BTC funded through convertible notes and share offerings. This illustrates a growing shift toward long-term treasury strategies.
3. ETF Flows Reflect Product Rotation
Spot Bitcoin ETFs saw volatile daily flows in March, swinging from a $458 million inflow to a $348 million outflow within days. Total ETF assets remained around $56 billion, indicating rotation between products rather than fresh capital entering the market.