BlockBeats News, March 17, CryptoQuant analyst @AxelAdlerJr stated that recently Bitcoin spot ETF inflows have rebounded, but the Bitcoin price is still $5,174 (approximately $80,000) below the ETF realized price (Note: which can be roughly considered as the average cost of Bitcoin held by the ETF).
The analyst stated that a demand recovery could drive the price higher, but resistance near $80,000 may trigger profit-taking. Monitoring subsequent macro data is needed to assess the breakout potential.
