3 Bitcoin Onchain Metrics Signaling BTC Price Boom Toward $150K

Bitcoin (BTC) could enter the early stages of another major bull cycle toward $150,000, according to a mix of onchain metrics.

Dollar’s ‘Bull Signal’ Returns to Boost Bitcoin Prices

In March, the US Dollar Index (DXY) recently fell below its 200-day exponential moving average, its most significant downside deviation in 21 years. Historically, such steep drops in the DXY have coincided with investors moving away from safe-haven assets and into riskier plays like stocks and commodities.

A CryptoQuant chart by analyst Darkfost highlights a recurring pattern: Bitcoin tends to thrive when the DXY dips below its 365-day moving average.

These phases—shaded in gray on the chart below—have consistently overlapped with strong upward momentum in BTC price.

The logic is simple: a weaker dollar usually reflects loosening monetary conditions or expectations of Federal Reserve rate cuts, both of which boost market liquidity and risk appetite.

“We are currently in a phase where the weakness of the DXY could fuel a new rise in BTC, but the price hasn’t reacted yet,” DarkFrost noted.

Institutions Are Rushing Toward Bitcoin’s Safety

Other onchain metrics are flashing signs of strong demand, particularly from institutional players.

The Coinbase Premium Gap, which measures the price difference between BTC on Coinbase Pro and Binance, has recently surged to its widest level on record, hitting over +$78.

When averaged over a month, the premium confirms persistent buying pressure from US-based institutions.

Unlike ETFs, which are accessible to retail and professional investors alike, Coinbase Pro is built with institutional trading in mind. It offers deep liquidity, low fees, and advanced execution tools, making it a favored venue for hedge funds, asset managers, and whales.

Interestingly, this premium is not always in sync with ETF flows.

ETF net inflows between June 16 and June 27 stayed around $1 billion per week, but the Coinbase premium continued rising independently, underscoring that institutional demand isn’t only flowing through regulated funds.

BTC Outflows Signal Long-Term Confidence

Exchange data shows outflows continue to dominate, pointing to strong long-term conviction among investors.

The monthly outflow/inflow ratio has dropped to 0.9—its lowest since the 2023 bear market—signaling that more BTC is being moved to cold storage than brought onto exchanges.

This ratio historically reflects high demand when below 1, and potential sell pressure when above 1.05. The current dominance of outflows, alongside rising participation from long-term holders, suggests Bitcoin is increasingly viewed as a strategic store of value by corporations and governments alike.

With macro tailwinds and institutional accumulation rising, BTC’s case for $150,000 price target remains firmly intact.