On March 17, CryptoQuant analyst @AxelAdlerJr stated that while there has been a recent rebound in inflows into Bitcoin spot ETFs, the price of Bitcoin is still $5,174 (approximately $80,000) lower than the ETF realized price (which can be approximated as the average cost of Bitcoin held by the ETF).
Analysts say demand recovery could drive prices higher, but resistance around $80,000 could trigger profit-taking, and subsequent macroeconomic data should be monitored to assess the potential for a breakout.





