Bitcoin Dips to $86K—But Massive 6,000 BTC Withdrawal Could Signal What’s Coming Next

Jakarta, Pintu News – The price of Bitcoin BTC0.91%->Current BTC PriceRp 1.380.113.4160.91%Market Cap-Trading Volume-Circulating Supply- corrected to $86,000 again on Friday (28/3/25), sparking questions among investors about the next direction of the market.

While this drop comes amidst a consolidation phase, the latest data shows an outflow of more than 6,000 BTC from exchanges-worth around $525 million.

This phenomenon indicates that large market participants are starting to move their assets into long-term storage, a classic signal that often precedes large price movements.

Then, how will the Bitcoin price move today?

Bitcoin Price Drops 0.34% in 24 Hours

Read also: Dogecoin Price Slumps 5% Today (3/28/25): Crypto Analyst Optimistic DOGE will Rise to $8!

As of March 28, 2025, Bitcoin (BTC) was trading at $86,765, equivalent to approximately IDR 1,444,994,766. The price marked a modest decline of 0.34% over the past 24 hours. During this period, BTC reached a daily high of IDR 1,457,464,768 and dipped to a low of IDR 1,430,194,123, reflecting mild intraday volatility.

According to CoinMarketCap, Bitcoin’s market capitalization is now down to $1.72 trillion, with trading volume in the last 24 hours also down 10% to $24.17 billion.

Investors withdraw 6,000 BTC as US macroeconomic sentiment improves

Bitcoin and the crypto market in general experienced high volatility in early March 2025. Price spikes had occurred after Donald Trump proposed the establishment of a national strategic crypto reserve on March 2.

However, just a day later, he announced trade tariffs against Canada and Mexico, which immediately triggered a sell-off due to inflation concerns.

As the negotiations progressed, the Trump administration granted a number of exemptions to cushion the impact of inflation on important sectors in the country.

The policy, coupled with positive data from the United States’ Consumer Price Index (CPI) and Producer Price Index (PPI) reports in mid-March, paved the way for the Fed’s decision to halt interest rate hikes last week.

Since then, investors who had previously withdrawn from risky assets have begun to take optimistic positions again. This is reflected in CryptoQuant’s Exchange Reserves data, which records the total amount of Bitcoin held in wallets linked to crypto exchanges.

Since mid-March, investors have continued to withdraw large amounts of Bitcoin as inflation concerns have eased. As of March 13, Bitcoin reserves on exchanges stood at 2.48 million BTC.

At the time of this report, that number is down to 2.42 million BTC-signaling a withdrawal of more than 6,000 BTC, or about $525 million, in just the last two weeks.

Read also: Ethereum Falls to $1,900 Today (March 28) — Is a Major Investor Comeback on the Horizon?

This short-term decrease in supply helped Bitcoin maintain the support level at $85,000 for three consecutive trading days.

Why the $525 Million BTC Outflow is a Bullish Signal for Bitcoin Price

According to Coingape (28/3), the decline in Bitcoin reserves on exchanges is often considered a bullish signal, as it reflects two important dynamics in the market. First, traders who are optimistic about Bitcoin’s prospects in the short to medium term tend to move their assets from exchanges to long-term storage.

Second, large investors-often called “whales”-usually move their newly purchased BTC tocold storage or multi-signature wallets for security and compliance reasons.

Both of these factors contribute to a decrease in Bitcoin’s supply in the short term, increasing the potential for a rapid price spike towards the $90,000 level when the next surge in demand occurs.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Bitcoin Price Forecast: 6,000 BTC on the Move as Trump’s Tariffs Impact Tesla. Accessed on March 28, 2025