Bitcoin price above $71K as exchange outflows hint accumulation

Bitcoin price has rebounded above $71,000 after a week of mixed signals, with investors watching Middle East geopolitical efforts to ease tensions. A reported US–Iran peace proposal improved risk sentiment and pushed Bitcoin higher. Despite the recovery, sentiment stays cautious: the Fear & Greed Index is 35, still in “Fear.” On-chain data highlights a key bullish clue. More BTC is leaving exchanges than entering them, which typically signals accumulation and reduces near-term sell pressure. The article also cites Arkham Intelligence data showing the Royal Government of Bhutan moved about $37 million worth of Bitcoin from government-controlled wallets. Analysts framed it as structured treasury management rather than an immediate liquidation, though such government transfers can still affect market liquidity and trader psychology. Near-term, the market is consolidating after a potential bottom near $67,500. Traders will likely focus on levels: a daily close above $73,000 could strengthen the bounce and open room toward $75,000, while a drop below $70,000 may invite a retest of $67,500 support. Overall, Bitcoin price action looks supportive, but confirmation is still required before calling a durable trend.