Onchain data doesn’t lie. Between March 23 and 30, 2026, demand for bitcoin among long-term holders jumped by 48.5%. Meanwhile, the miners put the brakes on. A strong signal that CryptoQuant figures can decode.
In brief
- CryptoQuant onchain data reveals a 48.5% increase in long-term bitcoin requests in 7 days.
- Accumulator addresses increased from 138,000 BTC to 205,000 BTC in one week.
- The MPI stands at –1.042, the lowest level since 2024.
- The Binance net taker flow is –$1.2 billion (vs. +$3.28 billion on March 15).
- The Bitcoin Unified Sentiment Index stands at –62.9%, but is gradually rising towards neutrality.
Bitcoin: 67,000 BTC absorbed in 7 days by accumulator addresses
THE bitcoin accumulator addresses have absorbed around 67,000 BTC in a week. CryptoQuant's onchain data shows that their holdings increased from 138,000 BTC on March 23 to 205,000 BTC on March 30. This move follows a peak near 210,000 BTC earlier in the month.
This is not a coincidence of timing. This accumulation occurred precisely during a bitcoin price decline. Which reflects an active absorption of the available supply. Decryption: when others hesitate, these players buy.
On the minors' side, the movement is just as significant. On CryptoQuantanalyst Nino noted that the Miners' Position Index (MPI) — 30-day moving average — fell to –1.042. It's about his lowest level since 2024 lows. The MPI measures miners' bitcoin outflows relative to their annual average. The lower it is, the less miners sell.
The combination therefore turns out to be rare and notable: long-term holders accumulate while miners slow down their sales. Result : fewer bitcoins enter the market. Structural selling pressure is therefore decreasing.
Why does the onchain signal on bitcoin contrast with exchange sentiment?
Crypto exchanges, however, tell a different story. THE net taker flow on Binance notably plunged to -$1.2 billion on Monday March 30. On March 15, this same indicator showed +3.28 billion dollars. This reversal reflects a rise in aggressive selling on bitcoin derivatives markets.
THE Bitcoin Unified Sentiment Index drives the point home further. This composite index integrates derivatives positioning, volatility and volumes. It currently displays –62.9%, well below the threshold of –50. On March 15, it was still at –2.42%.
Decryption: the nervousness of the short-term market is real.
However, here is what changes the reading: this index gradually rises towards the neutral zone. Which means the fear fades. Conviction still remains limited.
The proof: bitcoin oscillates in a price range between 60,000 $ and 75,000 $. At the same time, activity remains closely linked to liquidity flows around this area.
The divergence is therefore clear: hodlers are building their positions on bitcoin while the short-term market is still digesting persistent selling pressure. These two dynamics coexist. And historically, it is often in these silent phases that major trends are born.
In any case, the onchain data shows a bitcoin in the middle of a discrete accumulation phase. This signal could well foreshadow the next directional move. The history of crypto cycles invites us not to ignore it.
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