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On February 25, Bitcoin spot exchange-traded funds recorded their strongest day of net inflows in weeks, marking the first significant increase in open interest since mid-October 2025, hinting at changes in market structure.
According to the latest news released by analyst Amr Taha yesterday (March 2), there are two basic signals reflecting changes in Bitcoin price trends among investor categories.
The first involves Binance’s 30-day cumulative inflows, divided into retail investor flows and whale flows.
Data show that between February 6 and March 2, the movement of people fell from US$14.1 billion to US$9.05 billion, a drop of nearly US$5 billion.
Taha noted that a similar pattern repeated itself twice in 2025, as individual traffic contractions were preceded by sharp market price swings, reinforcing the metric’s importance as an early measure of the transition.
In contrast, the second chart shows a significant increase in total Bitcoin holdings across all U.S. spot ETFs on February 25, the first significant increase in the recession months.
Taha estimates that approximately 21,000 Bitcoins have entered these funds, worth approximately $1.45 billion, arguing that this is the beginning of a new wave of institutional accumulation.
However, data from the “SoSoValue” and “FarSide” platforms showed that the net traffic on that day was slightly more than 500 million US dollars, which was far lower than Taha’s estimate, but it was still the best day of traffic since mid-January.
Looking at overall performance, Bitcoin price is going through a rough patch, recording five consecutive months of declines for the first time since 2018, following a roughly 15% drop in February.
It currently trades at just over $68,000, down more than 20% in a month and about 47% below its all-time high set in October 2025.
Analyst “Crypto Dan” pointed out that most investors who bought Bitcoin in the past two years have lost money.
According to his logic, strong bullish waves usually begin after most participants experience significant losses, while large corrections are accompanied by periods of large profits.
“Dan” believes that a price drop below $60,000, which puts most investors (except for very long-term holders) in loss territory, may constitute a deliberate accumulation opportunity for those with a clear entry strategy.
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