Why Bitcoin Price Rallied From $65,000 To $74,000 — Analyst Gives ‘Real Reason’

bitcoinistPublished on 2026-03-22Last updated on 2026-03-22

Abstract

Bitcoin's recent rally from $65,000 to over $74,000 is attributed to significant outflows from Binance, according to a CryptoQuant analysis by Burak Kesmeci. The 30-day simple moving average of Bitcoin exchange outflows indicates that approximately $55 million worth of BTC has been leaving Binance daily, signaling strong accumulation and growing long-term investor confidence. This persistent demand, reflected in the declining netflow, has supported Bitcoin's price strength even amid global equity market declines and geopolitical tensions. At the time of writing, Bitcoin trades around $70,620.

The price of Bitcoin has continued to approach the $75,000 mark in recent weeks, with the premier cryptocurrency showing some form of resurgence in the past few days. An analyst has laid out the “real reason” behind BTC’s latest attempt to break the $74,000 mark.

$55M Of BTC Flow Out Of Binance Daily

In a new Quicktake post on the CryptoQuant platform, crypto pundit Burak Kesmeci put forward the “real reason” why the Bitcoin price jumped from around $65,000 to its latest high above $74,000. The market analyst revealed that the movement of significant Bitcoin amounts out of Binance, the world’s largest cryptocurrency exchange by trading volume, has played a major role in the recent bullish momentum.

Highlighting CryptoQuant’s data, Kesmeci shared that the 30-day simple moving average (SMA30) of the Bitcoin Exchange Outflow metric (for Binance) has been on a steady decline in the past few weeks. This indicator’s contraction suggests the outflow of significant Bitcoin amounts from the world’s largest exchange in recent weeks.

Kesmeci clarified in his post:

Looking at daily netflow data alone can be misleading. That’s why I follow the SMA30 — it gives a far more reliable read.

Data from CryptoQuant and the falling Bitcoin Netflow SMA30 indicate that, on average, $55 million in BTC (at an average price of $70,000) has been leaving Binance over the past few weeks. According to Kesmeci, a daily exchange outflow of this magnitude is “clear evidence of growing demand.”

Source: CryptoQuant

Typically, significant movement of coins from centralized exchanges is often a signal of increasing confidence in the cryptocurrency’s long-term promise, as investors tend to move their assets to non-custodial wallets for long-term storage. Moreover, this trend could also suggest fresh accumulation and buying from investors.

As Kesmeci pointed out, the BTC price surge of more than 13% from $65,000 to $74,000 coincided with the period when the Binance BTC Netflow SMA30 fell and remained below zero. This somewhat optimistic price performance has come despite the uncertain global market conditions stemming from the ongoing military conflict in the Middle East.

Kesmeci added:

As of March 20, U.S. equity markets are bleeding — yet Bitcoin is holding strong. The demand sitting behind Binance’s netflow data explains why.

Bitcoin Price Overview

As of this writing, Bitcoin is valued at around $70,620, reflecting a 0.4% price jump in the past 24 hours.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

Related Questions

QWhat is the 'real reason' behind Bitcoin's recent price rally from $65,000 to $74,000, according to the analyst?

AThe 'real reason' is the significant outflow of Bitcoin from the Binance exchange, with an average of $55 million worth of BTC leaving daily, which is clear evidence of growing demand.

QWhich specific metric did the analyst use to determine the trend of Bitcoin outflows from Binance?

AThe analyst used the 30-day simple moving average (SMA30) of the Bitcoin Exchange Outflow metric for Binance, as it provides a more reliable read than daily netflow data alone.

QWhat does a significant movement of coins from centralized exchanges typically signal?

AIt typically signals increasing confidence in the cryptocurrency's long-term promise, as investors move their assets to non-custodial wallets for long-term storage, and can also suggest fresh accumulation and buying.

QHow much did the Bitcoin price increase during the period when Binance's BTC Netflow SMA30 was below zero?

AThe Bitcoin price surged by more than 13%, from $65,000 to $74,000, during that period.

QDespite negative performance in U.S. equity markets, what was Bitcoin's price action, and what explains this strength according to the analyst?

AAs of March 20, Bitcoin was holding strong despite U.S. equity markets bleeding. The analyst explains that the demand indicated by the Binance netflow data is the reason for this strength.

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363 Total ViewsPublished 2025.05.13Updated 2025.05.13

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