Bitcoin spot inflows surged about 1,671% within five minutes, a sharp move that jolted prices and disrupted short-term order flow, according to data from CoinGlass. While the precise figures remain fluid, analysts say the signal matters more than the exact number.
Unlike leveraged futures positions, spot flows represent direct buying and selling of Bitcoin itself. Spikes of this scale usually reflect large transfers into spot exchanges that are executed quickly or aggressive market buying. That dynamic contrasts with futures-driven rallies, which often fade once leverage is unwound.
The latest spike comes after a steep pullback from recent highs, with Bitcoin falling from above six figures into the low-$90,000 range. Liquidation data suggests much of the leveraged excess has already been cleared, with long positions flushed out and open interest declining.
This reset is seen as constructive for market structure. Fresh spot demand entering after leverage has been reduced is generally viewed as healthier than buying into an overheated, euphoric phase.
For now, futures activity remains mixed to negative across several intraday time frames. That divergence is key: while derivatives traders stay cautious, spot buyers are stepping in. Historically, this setup has tended to support gradual, grinding advances rather than sudden vertical rallies. The current move appears driven more by accumulation than by fear of missing out.
Technically, Bitcoin is attempting to reclaim its short- and medium-term moving averages. Momentum indicators are turning higher from neutral, not overbought, levels, suggesting room for further upside if spot demand persists.
Even so, the path to $100,000 is not clear-cut. Significant resistance remains between the mid-$90,000 area and the psychologically important six-figure mark, where substantial prior selling and “trapped” supply are clustered.
A single spike in spot flows is unlikely to break that macro resistance on its own. Analysts point to several conditions that would need to align for a sustained move higher:
- Repeated waves of strong spot inflows
- Declining exchange balances, indicating coins are being withdrawn to longer-term storage
- Contained futures positioning, with leverage remaining moderate
If those factors hold, Bitcoin could continue to grind upward, forcing short sellers to cover into strength as spot buyers absorb available supply while leverage stays muted.
If, however, the recent surge proves to be a one-off transfer or a short-lived arbitrage move, the price is more likely to stall and slip back into its previous trading range. For that reason, market watchers emphasize treating this development as a confirmation of underlying demand rather than a standalone signal to chase the rally.