As BTC price risks prolonged consolidation, Bitcoin demand is waning.

The demand for Bitcoin (BTC), which is a cryptocurrency, has dropped sharply in the past few days due to the fact that the price of Bitcoin hit overhead resistance at $80,000. Analysts claim that BTC’s inability hold support levels above $80,000 may have paved the way for an extended consolidation.

The key takeaways

• Bitcoin’s apparent Bitcoin demand dropped to -3.138 BTC, the lowest level it has been in four months.
• BTC’s price has been pushed below $80,000 by a combination of weak spot market activity and negative ETF flow.
• Analysts say that Bitcoin is at risk of a prolonged consolidation, or even a more severe correction, if the $78,000 barrier cannot be broken.

Bitcoin demand is at its lowest since January, with traders and investors taking a more conservative approach to risk due to the geopolitical climate. macroeconomic uncertainties.

Related: Bitcoin rallies through $77K despite spot BTC ETF outflows topping $2B

Capriole Investments Bitcoin Appearant Demand Metric shows that Bitcoin demand has been declining since December 22nd, 2025. The trend improved slightly by late February but then reversed sharply, to -3138 BTC, on Thursday. 

Bitcoin’s apparent demand. Source: Capriole Investments

“Bitcoin’s overall demand has flipped into net contraction,” CryptoQuant said In its Weekly Crypto Report, the report adds:

“Spot apparent demand is contracting at a slightly faster pace than in prior weeks.”

In recent weeks the spot market’s activity has declined, as evidenced by the drop in cumulative volume (CVD), a measure of volatility across all exchanges. “remaining negative into the recent pullback toward the high-$70K range,” Glassnode said The Week On the Chain Newsletter, published in its most recent edition:

“Despite Bitcoin remaining relatively resilient structurally, the latest spot positioning data suggests broad-based spot accumulation has yet to re-emerge.”

Bitcoin CVD. Glassnode: Source for Bitcoin spot CVD

In the meantime, US-based exchange-traded fund (ETF) spot also sold net, and their 30-day change on ETF holdings dropped to its lowest levels in almost three months. 

It is clear that “outright spot demand is becoming less aggressive near the current range highs,” Glassnode is added.

US ETF AUM Position change. Source: Glassnode

A simultaneous decline in spot demand and ETF flow has occurred. “historically been more consistent with renewed price weakness than with stable consolidation,” CryptoQuant has concluded.

Bitcoin is nearing an inflection-point

Bitcoin’s 38% rally to $82,800 From its macro-low of $60,000, the market has recovered above average and is now at $78,300.

True market means is a model of price that tracks average Bitcoin acquisition costs. “historically serves as the dividing line between bear and bull market regimes, according to Glassnode.

The onchain data provider said that reclaiming this level is a “A structural change is necessary, but it’s not enough.” adding:

“”Conventionally, the pre-bull markets require weeks or months of consolidation around a model to confirm a regime change.”

It is important to note that between March 2021 and October 2021 the price of the stock consolidated in a tight range around its true market average for more than six months before it exploded into a 174% rise, reaching the all-time record high $74,00, reached by March 2024.

Bitcoin risk indicator. Source: Glassnode

Glassnode added: 

“Any deeper correction from current levels would therefore reframe the recent rally as a local top within the ongoing bear market, a structure that has recurred multiple times in prior cycles and remains the higher probability outcome until price demonstrates sustained follow-through.”

Other analysts have highlighted weaknesses in Bitcoin’s market, including fading momentum, declining retail investor activity, aggressive selling in the futures markets and a weakening technical structure, putting BTC at risk of dropping to as low as $65,000 over the next few weeks.