Bitcoin on the verge of dropping to $67K: how weakening demand triggers a bearish scenario

Indicate a weakening of institutional interest: spot demand for Bitcoin shows remarkable weakness, and delta volumes remain in the red zone. Experts note that this trend could end with a significant correction movement for BTC.

What the Bitcoin demand data shows

The past week has revealed a radical change in investor behavior. The total delta volume of the spot Bitcoin market fell from -$40.8 million to -$111.7 million, indicating an intensification of selling pressure. According to the analytical platform Glassnode, this sharp deterioration signals a significant increase in aggressive selling and a decline in buyer confidence.

Spot demand for Bitcoin ETFs has undergone a dramatic transformation: if last week they received $134.2 million, this week saw an outflow of $707.3 million. Such a sharp change indicates extensive profit-taking and a reassessment of institutional positions. Monday’s data showed an additional outflow of $60.48 million from BTC spot ETFs, while altcoins demonstrated the opposite trend: ETH attracted $35.49 million, XRP — $38.04 million.

Technical pattern confirms downward movement

On the daily timeframe, Bitcoin formed a bearish flag — a classic continuation pattern of the downward trend. The formation of this pattern began after a drop from a high of $107,000, reached on November 11. A recent recovery attempt was blocked near $93,000, where the cryptocurrency encountered resistance at the upper boundary of the flag.

If Bitcoin drops below the critical support line at $90,000, it opens the way to a target level around $67,380 — approximately matching the 2021 high. Such a scenario would mean a 25% decline from current levels.

The current Bitcoin price is $90.61K, with a 24-hour range from $90.24K to $92.52K. The cryptocurrency’s all-time high reaches $126.08K, but it is far from current prices.

Expert forecasts are divided on the bottom

Trader Roman suggests that the weakening of MACD and RSI allows these indicators to “cool off” before continuing the downward movement inside the flag. This is interpreted as a sign of weakening momentum before a new push down.

Analyst Colin Talks Crypto identified a more optimistic target zone at $74,000–$77,000, where he believes a “bottom is most likely to form,” and expects an active rebound from these levels.

Crypto trader Aaron Dishner proposes a more complex scenario: Bitcoin will first recover from the current lows around $86-87K, then attempt to return to $92,216 and even approach $98,000 near the upper line of the flag, but volumes remain closed, so this surge has limited prospects. In his view, this will create conditions for the continuation of the main downtrend.

Why buying Bitcoin now is risky

The main issue lies in structural demand weakening. While previously active accumulation scenarios (buy the flag as a technique for entering a position for long-term players) were considered, today the picture has changed: the widespread capital movement is directed from BTC towards altcoins, favoring riskier assets amid uncertainty.

Macroeconomic instability, mass liquidations, and stagnation in spot ETF flows create an environment where Bitcoin’s growth appears limited. Experts point out that failure to retest the yearly open above $93,000 is a signal of changing market sentiment in favor of bearish players.

Some analysts do not rule out extreme scenarios with potential drops to $40,000 in the coming months, although such forecasts are viewed as a long-term pessimistic outlook rather than a probable short-term outcome.