Bitcoin’s (BTC) recent high was $82,000. However, a technical bearish structure, weakening of demand and an increasing selling pressure have led to a 6.5% drop.
Takeaways from the conference:
- BTC prices are at risk of falling to $72,000, as the downward momentum on larger time frames increases.
- Binance BTC’s inflows have tripled over the past two weeks. The market is experiencing increased selling pressure, and investor confidence has weakened.
- Bitcoin’s apparent price fell below 2026 levels, increasing the risk that spot prices will continue to fall if they do not improve in coming weeks.
Bitcoin bears watch BTC drop in price to $72,000
Bitcoin’s inability hold key support levels indicated that buyers weren’t able to sustain the upward momentum.
“$BTC has officially lost the 100 & 50d EMA,” CryptoJelleNL said In a recent posting on X:
“The local market structure is back to bearish.”
“Bitcoin lost its bullish impulse exactly when macro sharply deteriorated,” Axel Adler Jr. is a colleague analyst said Additions to a Sunday post:
“The market looks risk-off, and every BTC bounce remains unconfirmed.”
It is important to note that the word “you” means “you”. rejection at $82,000 BTC prices have been held at a maximum since the beginning of February by an ascending parallel trend channel.
Chart below shows how every time price is rejected from the trendline, the value drops between 11-14%, and the trend line lower supports.
Bitcoin’s price will continue to fall towards the lower border of the channel, at $72,000. This is 13% less than the upper limit and represents a drop of 7% from its current value.
BTC/USD chart for the day. Source: Cointelegraph/TradingView
While the index of relative strength has fallen to 48 from nearly overbought levels at 69, on 6 May. This suggests a growing downward trend.
“Bitcoin briefly dipped as low as $74.1K, sweeping the May VCPR liquidity zone before seeing a quick reaction,” Anup Dhungana, trader and analyst said It is worth noting that in the latest of his analyses on X:
“Losing this support area could send $BTC swiftly back toward the $70K region, while holding it keeps the door open for another recovery attempt.”
MN Capital founder Michael van de Poppe shared A chart that shows what happens if you change the “crucial” When the $75,000-$76,00 support area is breached, prices could fall to the $74,000-71,400 line before retesting the 2026 lows at $60,000.
Van de Poppe also said the BTC/USD pair could be broken to “higher grounds” above $80,000 If “there’s going to be a peace deal in the Middle East” The next days will be very exciting.
BTC/USD Daily Chart Source: X/Michael van de Poppe
Cointelegraph reportedThe critical level of $76,000 is to be watched, since a close under it could increase the chance that the stock drops to the multiple-month support at around $72,000.
Bitcoin apparent demand hits 2026 lows
Bitcoin’s “warning is flashing” Re-enter the Risk Index after it has been reentered “high-risk” Swissblock, a private wealth manager.
“That doesn’t confirm breakdown yet,” Swissblock said Additions to a post by X in a previous:
“But it confirms that selling pressure is no longer being fully absorbed.”
Bitcoin risk index. Source: Swissblock
Binance has recorded net BTC flows for nearly ten days in a row, indicating that this high-risk indicator is also correlated with the increasing pressure of sellers on exchanges. Inflows have increased by more than 3 times in two weeks, from May 16 to 1190 BTC.
“When inflows become dominant and consistent on a platform like Binance, this is traditionally interpreted as a potential sell signal,” CryptoQuant analyst Darkfost said In a QuickTake on Monday:
“Holders transferring their BTC to an exchange most often do so with the intent to sell, whether it be profit taking, reducing exposure, or a more defensive repositioning.”
Source: Binance’s Bitcoin exchange net flow. Source: CryptoQuant
Bitcoin’s apparent market demand fell to -147,000 BTC. It is the lowest reading it has seen since December 2025.
“This development suggests that demand continues to gradually contract,” Darkfost said On Sunday, I added:
“Without a meaningful recovery in spot demand, it becomes difficult to imagine Bitcoin sustaining a durable rally.”
Bitcoin’s apparent demand. Source: CryptoQuant
On Feb. 6, this number dropped by another 33%, to new multi-year lows of less than $60,000.
Cointelegraph reportedBitcoins’s declining demand increasing spot ETF outflows Have raised the risks of prolonged consolidation and a fall towards $65,000 over the short-to-medium term.
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Source: cointelegraph.com
