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- Bitcoin remains capped below $93K amid weak ETF demand and negative spot CVD.
- A confirmed bear flag breaks toward $67K, a 25% downside risk.
- Analysts see possible support in the $74K–$77K zone but warn volume remains weak.
Bitcoin is struggling to reclaim the $93,000 level as weakening spot demand, sliding ETF inflows and a dominant bearish chart structure continue to pressure the market. Analysts warn that the absence of new buyers, combined with persistent sell-side momentum, leaves BTC vulnerable to a deeper retracement — with technical patterns pointing as low as the $67,000 zone.
The benchmark cryptocurrency traded around $90,600 on Tuesday, extending a week-long consolidation that has failed to attract meaningful spot flows or institutional interest. Market intelligence firms say the trend signals soft conviction across both retail and ETF channels.
Bear Flag Breakdown Could Signal Deeper Correction
Bitcoin’s daily chart shows a clear bear flag, formed after the sharp drop from November’s $107,000 high. The recent rebound — capped at the flag’s upper boundary near $93,000 — failed to trigger a bullish reversal, increasing the probability of a continuation breakdown.
A daily close below $90,000, the flag’s lower boundary, would activate a measured target in the $67,000–$67,400 range — roughly 25% below current levels and close to Bitcoin’s 2021 cycle high. Trader Roman noted that oversold RSI and MACD readings have cooled during consolidation, enabling the broader downtrend to resume if support fails.
Still, some analysts see potential interim support. Market commentator Colin Talks Crypto believes the $74,000–$77,000 zone is the “likeliest bottom,” adding that a sharp rebound could follow if BTC tests that region. Others, such as trader Aaron Dishner, expect one more push toward $92,200–$98,000 under the flag resistance before the next leg down — but caution that volume remains “too weak to drive higher highs.”
ETF Outflows Undermine Market Support
The latest data confirms that institutional demand is fading. U.S.-listed spot Bitcoin ETFs shifted from $134.2 million in inflows to $707.3 million in outflows last week, according to Glassnode. Investors have continued withdrawing capital, with an additional $60 million exiting products on Monday, per Farside Investors.
Also Read: Crypto’s Most Overlooked Risk Explodes – Galaxy Warns Treasury Stocks Could See More Pain
Analysts attribute the ETF rotation to profit-taking and increasing macro uncertainty, which has kept inflows muted even during short-lived rebounds. Without ETF support, Bitcoin lacks the bid depth required to break above key resistance levels.
Spot Buying Weakens as Selling Pressure Builds
Spot market sentiment has deteriorated as well. Bitcoin’s Cumulative Volume Delta (CVD) — measuring the net impact of buys versus sells — fell from –$40.8 million to –$111.7 million over the past week, signaling intensifying sell pressure.
Glassnode said the sharp decline “signals a clear rise in aggressive selling,” highlighting reduced appetite from buyers and a “short-term tilt toward bearish sentiment.” Combined with slowing ETF demand, analysts say this dynamic limits Bitcoin’s ability to retest its yearly open above $93,000.
Bitcoin now sits at a critical juncture. With spot buyers pulling back, ETF demand weakening and a bearish continuation pattern dominating the charts, the path of least resistance appears skewed to the downside. Unless inflows return or buyers reemerge at lower levels, BTC may be headed toward a deeper retracement — potentially testing cycle-defining support in the $67,000–$77,000 zone.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
