BTC 15-minute increase of 0.75%: Large whale capital inflows and ETF net inflows resonate to push prices higher

From 07:30 to 07:45 on March 23, 2026 (UTC), Bitcoin (BTC) returns recorded a +0.75% increase, with a price range of 67,777.0 to 68,336.6 USDT and a volatility of 0.83%. During this period, market trading activity increased, capital flow structure shifted significantly, and volatility intensified, attracting market attention.

The main driver of this movement was large-scale whale fund transfers from trading platforms, with on-chain large transfers accounting for up to 89%. Exchange liquidity rapidly contracted, leading to buying pressure pushing prices higher. Meanwhile, ETFs experienced net inflows for five consecutive days, totaling $1.47 billion over two weeks, boosting institutional holdings and supporting BTC price performance, providing a liquidity floor.

Additionally, the number of whale entities reached a new high in March, with whales withdrawing coins from exchanges at a daily rate of 3.2%, closely resembling the early bull market structure of 2022 and reinforcing the dominance of large holders. Short-term buy orders on exchanges increased, strengthening bullish momentum and amplifying price movements. At the same time, increased global macroeconomic volatility and industry interest in new project pre-sales added complexity to the market, but had limited impact on prices during this window.

Persistent shrinking of market liquidity combined with net institutional inflows amplified short-term risks. If large sell orders, ETF fund outflows, or institutional rebalancing occur later, the current gains in BTC could experience increased volatility. Close monitoring of key indicators such as whale fund flows, ETF net inflows, and exchange order book depth is essential to prevent risks related to concentrated holdings and liquidity. Continued attention to on-chain fund movements and real-time market changes is recommended.