BTC 15-minute rise of 0.48%: Whale withdrawals and ETF fund flows work together to ease selling pressure

2026-03-31 13:45 to 14:00 (UTC), the BTC price traded in a range of 66978.1 to 67410.8 USDT, with the 15-minute return recorded at +0.48% and a range (amplitude) of 0.65%. In this time window, market attention increased, on-chain and exchange interaction activity intensified, and volatility characteristics became more pronounced.

The main driver behind this abnormal move is whale capital withdrawing coins from exchanges. On-chain data shows whale wallets withdrew about 420,000 BTC from exchanges within 10 minutes; over the past 24 hours, there were 1,633 large BTC outflows in total, which directly led to a clear decrease in short-term sell pressure on exchanges. As funds returned to on-chain storage, large holders tended to wait-and-see; spot sell pressure eased, and price received support. At the same time, March’s ETF cumulative net inflows of $113 million boosted spot demand. Some funds also shifted synchronously into an on-chain holding structure, accelerating spot supply contraction and driving a short-term price rebound.

In addition, the BTC futures market’s leverage structure remained stable: open interest of $4.803 billion did not show a major increase or decrease, and the Funding Rate stayed positive, indicating that long-side capital remains in control. This further amplified the sentiment to go long and strengthened the capital-flow push from the spot side. During the period, the number of active on-chain addresses rose and large transfers became busy, indicating that institutions and large holders were adjusting positions in sync. From a macro perspective, increased U.S. stock volatility and the entry of risk-hedging capital created a reinforcing effect, strengthening near-term demand. Meanwhile, changes in the regulatory environment in March increased risk-avoidance preference; capital flowed into on-chain storage, forming a multi-factor convergence.

With near-term volatility intensifying, it is necessary to monitor changes in spot liquidity. If later capital returns to exchanges, price pressure may resume. Track ETF fund flows, large transfer activity, and BTC’s key support levels (e.g., $66,700). If leverage capital concentrates in and out or macro negative news is released, the price may undergo sharp adjustments. Users should closely monitor capital movements and major market indicators to obtain more real-time market information.