From $68K to $150K: The Next Bitcoin Expansion CycleBitcoin / U.S. dollarBITSTAMP:BTCUSDSergioRichiBitcoin On-Chain Bullish Indicators Whales buying despite drops: Multiple CryptoQuant-based reports confirm that large holders have not exited – in fact whales have been steadily accumulating through recent pullbacks. For example, CryptoQuant notes “whale holdings on a monthly basis have not declined but instead continued to increase” even amid geopolitical risks. A MEXC summary cites CryptoQuant: “large holders have continued increasing exposure… structural accumulation rather than distribution”. In other words, while short-term sellers panic, big wallets (10,000–100,000 BTC and above) are holding firm or buying more. The provided order-size chart (Spot Average Order Size) likewise shows ongoing large-green “Whale Orders” at these levels, mirroring this on-chain data. Net exchange outflows: CryptoQuant data show persistent net outflows from major exchanges throughout the drop, a classic accumulation sign. Analysts note “consistent net outflows of Bitcoin from exchanges through March (except a brief pre-$76K spike)”, which they interpret as “genuine long-term accumulation”. CryptoQuant’s own reporting (via Binance) shows three straight days of Bitcoin leaving exchanges (–18,933 BTC on March 16, –8,428 on March 22, etc.). https://pbs.twimg.com/media/HE1_d7zbAAAkYns?format=jpg&name=4096x4096 These outflows are easing (smaller size) but remain net negative, implying fewer coins on the market. In sum, on-chain flows suggest supply is being absorbed by stronger hands – a bullish base-forming process. Miners and long-term holders: Miners have shifted from selling to accumulating. CryptoQuant reports miners holding ~1.805 M BTC as of late March, at an average cost ~$41.5K (a ~71% margin), insulating the market from capitulation. Meanwhile, long-term holders (>155 days) have largely held steady: LTH supply is “firm” (≈14.8 M BTC) with no large sell-off. In fact, one analysis notes the monthly net position change for LTH hit +353k BTC – the strongest accumulation since April 2025. https://pbs.twimg.com/media/HE2DJeXasAAvrRh?format=jpg&name=large Rising “illiquid supply” (coins moving to cold wallets) also confirms that BTC is being locked away, reducing future selling pressure. https://pbs.twimg.com/media/HE2EJj4XYAErToo?format=jpg&name=large https://pbs.twimg.com/media/HE2ESmsWoAADbAt?format=png&name=large All told, on-chain metrics show whales and long-term holders are standing pat or adding, not dumping. Bitcoin vs Global M2 Supply Growth https://pbs.twimg.com/media/HE2FhZkWMAEmXNh?format=jpg&name=large Comparison between Bitcoin’s price and global liquidity (M2) trends. Exchange and Liquidity Signals Stablecoin and order-book data: CryptoQuant flagged a simultaneous plunge in on-exchange stablecoin supply and a spike in coin-days-destroyed (CDD) during the dip. On March 22, ~$2.27B USDT left exchanges even as old coins moved – a “smoking gun” interpreted as whales bypassing public markets (buying OTC) and moving BTC to cold storage. https://pbs.twimg.com/media/HE2IkNVWIAANG--?format=jpg&name=large This indicates strong hidden demand underlying the sell-off. Additionally, the Stablecoin Supply Ratio (SSR) has fallen (from ~10.95 to ~9.85), meaning stablecoin liquidity is building up on exchanges again, which often precedes renewed buy-side pressure. https://pbs.twimg.com/media/HE2HW4BX0AAtZon?format=jpg&name=large Exchange Whale Activity: Notably, retail participation is waning: CryptoQuant’s “exchange whale ratio” hit decade highs, showing whales now dominate deposits while smaller traders sit out. One report sums it up: “Retail exits, whales accumulate.” These dynamics—whales absorbing weaker hands’ coins-keep the structure intact and make breakdown less likely. In effect, each dip is being bought by deep-pocketed investors, which typically sows the seeds for the next rally. Technical & Cycle Analysis (User Charts) Bullish chart patterns: 1. Crypto Long & Short Liquidations https://pbs.twimg.com/media/HE2Jn-mbgAA1fFS?format=jpg&name=large Note that liquidations have shifted toward short traders. People do not believe in further upside and are choosing a bearish strategy. https://pbs.twimg.com/media/HE2JtnTaMAAiTtM?format=jpg&name=large 2. Livermore's Speculative Chart https://pbs.twimg.com/media/HE2LFiOXwAEmQss?format=jpg&name=medium https://pbs.twimg.com/media/HE2N7r1bMAAADkV?format=jpg&name=large 3. Bitcoin: Spot Average Order Size https://pbs.twimg.com/media/HE2OW52WAAA6O3e?format=jpg&name=large Historically, Bitcoin tends to ramp sharply after capitulation ends. The current cycle still follows the long-term pattern (halving in 2024, build-up toward mid-2026). https://pbs.twimg.com/media/HE2QFInacAE5yi8?format=jpg&name=large A realistic entry point for Bitcoin is $68,000, along with the beginning of an upward move, including Bitcoin dominance (priority: Bitcoin only). Let’s hope this plays out in 2026-2027, when Bitcoin sets a peak-and then…