Bitcoin Price Uptrend Continues Amid Strong Demand from Long-Term Investors

The Bitcoin price experienced a dip in recent days but remains on an uptrend. According to AMBCrypto, from September 17th to 25th, the Spot Bitcoin ETF net flows totaled $2.88 billion. During this time period, BTC's price rallied by 10.26%, including the dip from $87.3K to $82.9K earlier in the week.

The Bollinger Bands tightened in mid-September when the price was consolidating around the $74K-$76K zone. However, a swift breakout past the $82.3K local highs has signaled another bullish expansion phase. The uptrend was unbroken, although a dip towards $80K-$82K could occur.

Despite short-term sentiment slumping due to the U.S-Iran tensions and the Bitget crypto hack, strong demand has turned year-to-date Spot ETF flows to Bitcoin positive, according to Galaxy Research data. A weekly session close above the previous May swing high at $82,850 will confirm a bullish trend shift on higher timeframes.

According to Axel Adler Jr., exchange netflows were negative despite the recent market sentiment slump. However, crypto analyst Axel Adler Jr. drew attention to the direction of exchange Bitcoin flows and noted that despite the Bitget hack, the reaction on popular exchanges was a steady outflow of coins, likely for long-term accumulation.

The selling pressure from long-term holders is unlikely to be heated up soon as their realized profits are currently around 72%, which is closer to bear market trends. Long-term holder realized profits have been in this range before, and it's likely that a majority of LTHs will wait for further price gains.