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

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

    Analysts suggest that Bitcoin (BTC) price action has formed bearish continuation patterns on its daily chart, potentially leading to new lows for BTC.

    Key takeaways:

    • A significant drop in spot buying and diminishing ETF demand indicates that upward momentum may be limited.

    • The bear flag pattern on Bitcoin’s daily chart points towards a target price of $67,000 for BTC.

    BTC price may bottom at $66,000

    The BTC/USD pair has created a bear flag on its daily chart, as illustrated below. This bear flag emerged after Bitcoin’s decline from a high of $107,000 on Nov. 11, with the recent bounce rejected at approximately $93,000 near the flag’s upper boundary.

    Related: Record low retail inflows to Binance: Bitcoin drops to 400 BTC in 2025

    A daily close below the flag’s lower boundary at $90,000 could pave the way for a move down towards the pattern’s measured target of $67,380, reflecting around a 25% decrease from the current price and near the peak price of 2021.

    019b02df f0b8 794c b37f dd3843684f55
    BTC/USD daily chart. Source: Cointelegraph/TradingView

    “Indicators (MACD and RSI) have shown extreme oversold conditions, and this movement allows them to stabilize, allowing for a continuation of our downtrend,” trader Roman stated in a Tuesday post on X, regarding Bitcoin’s consolidation within the flag.

    Pseudonymous analyst Colin Talks Crypto mentioned that while a downward move would be expected following the flag’s validation, the $74,000-$77,000 zone “is likely to be the bottom,” adding:

    “A strong rebound would be anticipated if such a level is hit.”

    Meanwhile, crypto trader Aaron Dishner predicted that BTC price might test $92,200, then approach $98,000 near the upper bear flag line, before continuing downward.

    “Weak volume doesn’t support higher highs.”

    As noted by Cointelegraph, the reluctance of Bitcoin to retest the yearly open above $93,000—attributed to macroeconomic uncertainties, liquidations, and stagnant ETF flow—is making traders hesitate.

    Bitcoin may decline due to decreased demand

    Bitcoin’s potential to surpass the yearly open above $93,000 seems constrained by a lack of buyers.

    The spot cumulative volume delta (CVD) for Bitcoin, which measures the net difference between buying and selling volumes, indicates that net spot buying remains negative, even after Bitcoin’s recent rebound.

    Over the last week, Bitcoin’s Spot CVD decreased from -$40.8 million to -$111.7 million, indicating “increased underlying sell pressure,” according to Glassnode’s latest Market Impulse report, which added:

    “This steep decline signals significant aggressive selling, reflecting weaker buyer confidence and a short-term bearish outlook.”

    019b02df f7b3 752a 92fa fe6e96a0ec45
    Bitcoin spot CVD. Source: Glassnode

    Last week, the demand for spot Bitcoin ETFs diminished significantly, flipping from a $134.2 million inflow to a $707.3 million outflow, noted the market intelligence provider, who added:

    “This transition points to profit-taking or softer institutional demand, reflecting a more cautious approach as investors reevaluate their positions.”

    These investment products faced an additional $60 million in outflows on Monday, according to data from Farside Investors.

    Cointelegraph reported that Bitcoin’s recent price rebound could be a bull trap, with some analysts forecasting prices 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.