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    Bitcoin Spot Demand Dips as Bears Aim for $67K BTC Price Level

    Ethan CarterBy No Comments4 Mins Read
    Bitcoin Spot Demand Dips as Bears Aim for $67K BTC Price Level

    Bitcoin (BTC) has shown bearish continuation patterns on its daily chart, indicating potential further declines, according to analysts.

    Key takeaways:

    • A noticeable drop in spot buying and a decline in ETF demand indicate limited upside potential.

    • Bitcoin’s bear flag pattern on the daily chart points to a target price of $67,000.

    BTC price could hit $66,000

    The BTC/USD pair has formed a bear flag on the daily chart, as illustrated below. This pattern emerged after Bitcoin’s decline from its $107,000 peak on November 11, and the recent bounce was met with resistance at the flag’s upper boundary near $93,000.

    Related: Bitcoin retail inflows to Binance fall to a record low of 400 BTC in 2025

    A daily candlestick closing below the flag’s lower boundary at $90,000 could pave the way for a decline towards the pattern’s target of $67,380, approximately the peak from 2021. This would signify a 25% decrease from the current price.

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    BTC/USD daily chart. Source: Cointelegraph/TradingView

    “Indicators like MACD and RSI are extremely oversold, and this movement lets them normalize, allowing us to continue our downtrend,” noted trader Roman in a post on X, referencing Bitcoin’s consolidation within the flag.

    Pseudonymous analyst Colin Talks Crypto mentioned that while a downturn is expected due to the flag’s validation, the $74,000-$77,000 range “is likely to be the bottom,” adding:

    “I would also anticipate a strong rebound if that level is hit.”

    Meanwhile, crypto trader Aaron Dishner stated that the BTC price is likely to return to $92,200, then towards $98,000 beneath the upper bear flag line, before continuing its downtrend.

    “Volume remains too weak to push for higher highs.”

    As reported by Cointelegraph, Bitcoin’s inability to retest the yearly open above $93,000, influenced by macroeconomic uncertainty, liquidations, and stagnant spot ETF flows, is leading traders to withdraw from Bitcoin.

    Bitcoin may decline due to diminished demand

    Bitcoin’s ability to surpass the yearly open above $93,000 seems restricted due to a lack of buyers.

    Bitcoin’s spot cumulative volume delta (CVD), which tracks the net difference between buying and selling volumes, indicates that net spot buying on exchanges remains negative, even following Bitcoin’s recent rebound.

    Bitcoin’s Spot CVD plummeted from -$40.8 million to -$111.7 million over the past week, “indicating stronger underlying sell pressure,” as reported by Glassnode in its latest Market Impulse report, adding:

    “This significant drop indicates a clear increase in aggressive selling, suggesting weaker buyer conviction and a short-term bearish sentiment.”

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    Bitcoin spot CVD. Source: Glassnode

    Demand for spot Bitcoin ETFs declined last week, shifting from $134.2 million in inflows to $707.3 million in outflows, according to the market intelligence provider, which added:

    “This change points to profit-taking or weaker institutional demand, reflecting a more cautious stance as investors reevaluate their positions.”

    These investment products saw an additional $60 million in outflows on Monday, based on data from Farside Investors.

    As noted by Cointelegraph, Bitcoin’s recent rebound could be a bull trap, with certain analysts forecasting a drop to as low as $40,000 in the coming months.

    This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.