Bitcoin Traders Remember They Like Bitcoin After All, Start Buying Again

Bitcoin demand is staging a modest comeback across spot and derivatives markets, with net buying activity finally turning green on major exchanges. Selling pressure from short-term holders has dropped sharply, suggesting the market's collective conviction isn't completely on vacation.

The $72,000 level remains the market's favorite topic of conversation, and holding the $70,000–$72,000 range as support could give bulls the confidence boost they've been pretending to have.

Bitcoin demand returns as $BTC loiters near $72,000, with renewed buying activity appearing in spot and futures markets. After weeks of enthusiastic selling that would make a used car salesman blush, recent data suggests market participants are cautiously rebuilding exposure following the late-March dip below $65,000.

Spot market flows indicate a clear shift toward accumulation. The 30-day net volume delta, measuring the glamorous difference between market buys and sells, has turned positive on key exchanges. Binance shows net inflows of about $43.2 million, while Coinbase records roughly $13.8 million, pointing to aligned behavior among large trading venues—because apparently, they all read the same chart.

Derivatives data supports this trend. Binance's cumulative volume delta has climbed to nearly $5.6 billion, reflecting stronger activity from aggressive buyers. This marks a notable increase compared to February's muted participation, suggesting traders are re-entering the market with something resembling confidence.

Profitability indicators also show improvement. Bitcoin's net realized profit and loss seven-day average has recovered from earlier lows, signaling the market is stabilizing. As realized losses shrink, the pressure to sell decreases, allowing demand to absorb available supply more effectively.

Bitcoin's interaction with the $72,000 level continues to shape its near-term structure. Since early February, this level has acted as resistance, with previous attempts to reclaim it facing strong selling from short-term holders. In March, rallies toward this zone triggered sales of around 26,000 $BTC and 31,000 $BTC.

The latest move, however, saw selling limited to roughly 3,000 $BTC, indicating a sharp decline in distribution pressure. This shift suggests holders are less inclined to exit positions, which may support a more stable price structure.

If buyers manage to defend the $70,000–$72,000 range, it could establish a foundation for continued upward movement. The next few sessions remain critical. Sustained support above this range would confirm that demand is returning with strength and that buyers are maintaining control over Bitcoin's price direction.