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    Bitcoin Spot Demand Declines as Bears Set Sights on $67K BTC Price

    Ethan CarterBy No Comments4 Mins Read
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    Bitcoin (BTC) price movements have revealed bearish continuation patterns on its daily chart, potentially driving BTC to new lows, as noted by analysts.

    Key insights:

    • A significant drop in spot buying and decreased ETF demand indicates that upward potential may be constrained.

    • Bitcoin’s bear flag pattern on the daily chart is targeting a price of $67,000 for BTC.

    BTC price could bottom at $66,000

    The BTC/USD pair has established a bear flag pattern on the daily chart, illustrated in the figure below. This flag emerged after Bitcoin’s decline from $107,000 highs on November 11, and the recent rebound faced rejection from the flag’s upper limit at approximately $93,000.

    Related: Bitcoin retail inflows to Binance ‘collapse’ to 400 BTC record low in 2025

    A daily candlestick closure beneath the flag’s lower boundary at $90,000 may pave the way for a retreat toward the determined target of the pattern at $67,380, aligning with the 2021 price peak. This would indicate a 25% decline from the current price.

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

    “Indicators (MACD and RSI) were extremely oversold, and this movement allows them to cool off so we can continue our downtrend,” stated trader Roman in a recent post on X, referring to Bitcoin’s consolidation within the flag.

    Anonymous analyst Colin Talks Crypto mentioned that while a downward movement would be expected from the flag’s validation, the $74,000-$77,000 range “would likely serve as the bottom,” adding:

    “I would also expect a strong rebound if such a level is reached.”

    Meanwhile, crypto trader Aaron Dishner suggested that BTC price might revisit $92,200, followed by $98,000 beneath the upper bear flag line, before continuing the downtrend.

    “Volume remains too weak to drive higher highs.”

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

    Bitcoin could drop due to weaker demand

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

    Bitcoin’s spot cumulative volume delta (CVD), an indicator that assesses the net difference between buying and selling trade volumes, indicates net spot buying on exchanges remains negative despite Bitcoin’s recent upswing.

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

    “This sharp drop indicates a distinct rise in aggressive selling, suggesting weaker buyer confidence and a short-term shift toward negative sentiment.”

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

    Spot Bitcoin ETF demand declined last week, shifting from a $134.2 million inflow to a $707.3 million outflow, as noted by the market intelligence provider, adding:

    “The transition indicates profit-taking or reduced institutional demand, reflecting a more cautious approach as investors reevaluate their positions.”

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

    As stated by Cointelegraph, Bitcoin’s recent rebound could represent a bull trap, with some analysts forecasting prices as low as $40,000 in the upcoming months.

    This article does not provide investment advice or recommendations. All investment and trading actions carry risk, and readers should perform their own research before making decisions.