Bitcoin Market Direction Unclear Amid Mixed Signals

Bitcoin's price has been stuck in a range between $69,000 and $71,000 over the past week, after experiencing a bullish momentum stall.

In the short-term, weakened spot ETF flows have reflected dimmed bullish sentiment behind Bitcoin. Farside Investors' data revealed a $305.7 million outflow from March 18th to 20th, which could trigger a pullback to the $65,000 support, as reported by AMBCrypto.

However, despite this capital outflow, there were signs of accumulation. A CryptoQuant analyst observed that Bitcoin's netflow (30-day Moving Average) from Binance was dropping below zero, indicating negative netflows and accumulation, which led to a price increase from $65,000 to $74,000.