Summary:
The decline in spot Bitcoin ETF inflows suggests diminished institutional interest, indicating a possible reduction in bullish sentiment.
Bears target $108,000 in the short term, with some analysts forecasting a slide to $90,000.
Bitcoin (BTC) sellers resurfaced on Thursday as the price dipped to $111,000, raising concerns about a potential drop toward $90,000.
Decline in Bitcoin ETF Interest
Institutional investors are pulling back from spot Bitcoin exchange-traded funds (ETFs) amid the recent price downturn.
ETF inflows have decreased following strong activity at the start of September. According to Glassnode’s latest Weekly Market Impulse report, net inflows dropped 54% to $931.4 million last week from $2.03 billion the previous week.
Also Related: 4 reasons Bitcoin is not achieving highs similar to gold and stocks
“Despite overall accumulation remaining stable, the slowdown indicates a halt in institutional interest,” the on-chain data provider commented on X.
This trend is notable compared to early September, when a steady price increase was accompanied by robust ETF inflows.
From September 2 to September 18, BTC/USD rose by 10% nearing $118,000, with net inflows surpassing $2.9 billion over eight trading days, as reported by Farside Investors, including a significant daily net inflow exceeding $741.1 million.
The CVD (Cumulative Volume Delta) indicator, tracking the cumulative difference between buys and sells over 90 days, has shown a consistent sell dominance since mid-August.
This indicates that retail traders have been primarily selling BTC rather than buying, reflecting a risk-off sentiment.
A further correction could be on the horizon for BTC as October approaches if ETF flows remain subdued and the CVD continues to favor selling.
Could Bitcoin Price Experience a “Deeper Flush” to $90,000?
As demand diminishes, concerns about BTC price stability intensify.
“There isn’t much strength in $BTC following yesterday’s strong performance,” remarked MC Capital founder Michael van de Poppe on X.
A corresponding chart indicated that if Bitcoin falls below the $112,000-$110,000 support zone, it could decline towards the $103,000-$100,000 demand zone, a promising “area to consider for purchases.”
“I expect further downside before a potential upward shift.”
Another analyst, AlphaBTC, exhibited an hourly candle chart revealing BTC/USD trading within a descending parallel channel.
Should the support at $112,000 fail, Bitcoin could drop to the channel’s lower boundary around $108,000, with potential further declines towards the $105,000-$100,000 range.
Moreover, BTC has dipped below the 0.95 quantile cost basis at $115,300, indicating possible risks, as stated by Glassnode. The Cost Basis Quantile is a crucial indicator for assessing market risk and potential price zones for Bitcoin.
“Reclaiming this level would indicate renewed strength; failing to do so could lead to declines toward supports around $105K–$90K.”
#Bitcoin has dropped below the 0.95 Cost Basis Quantile, a significant risk band signaling profit-taking zones.
Reclaiming this level would indicate renewed strength, whereas failing to do so risks a decline toward supports around $105k–$90k.
🔗https://t.co/w34og1mnGa pic.twitter.com/1dToAxcaRA
— glassnode (@glassnode) September 24, 2025
As Cointelegraph highlighted, Bitcoin’s double top pattern also indicates a target near $90,000 if support at $107,000 is breached.
This article does not provide investment advice or recommendations. Every investment and trading decision involves risk, and readers should conduct their own research.
