![](\"http:\/\/www.thebusinesschain.com\/wp-content\/uploads\/2025\/04\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDgvZDM2MDViNmItMGVmZi00NmY2LWE0NmYtYjE1ZWMzYjNlY2I.jpg\")
<\/p>\n<\/p>\n<\/p>\n<\/p>\n
<\/p>\n
Bitcoin’s (BTC<\/a>) price has dropped by over 2.5% over the last 24 hours to $83,400 as concerns over tariff impacts continue to sour investor sentiment.<\/p>\n BTC\/USD daily chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n<\/p>\n Several factors are behind Bitcoin’s decline today, including:<\/p>\n Sluggish institutional demand as spot Bitcoin ETF flows turn negative.<\/p>\n<\/li>\n Bullish momentum stalls.<\/p>\n<\/li>\n Low whale accumulation.<\/p>\n<\/li>\n BTC price rejection at key trendlines.<\/p>\n<\/li>\n<\/ul>\n Spot Bitcoin exchange-traded funds<\/a> (ETFs) have been a significant driver of institutional interest, but recent data suggest the demand is waning.<\/p>\n Spot Bitcoin ETFs<\/a> saw a total of $964 million in net outflows<\/a> between March 28 and April 15, according to data from Farside Investors. The strong selling pressure began at the end of March, as global trade tensions<\/a> increased and fears of an economic recession grew<\/a>.<\/p>\n Negative inflows into spot BTC ETFs<\/a> signal waning demand from institutional investors. This lack of fresh capital reduces buying pressure, pushing prices down as supply outpaces demand.<\/p>\n Spot Bitcoin ETF flows table. Source: Farside Investors<\/em><\/p>\n<\/figcaption><\/figure>\n Investors are now closely monitoring spot Bitcoin ETFs as a persistent outflow trend could exacerbate the correction.<\/p>\n “ETF demand is cooling,” said<\/a> a market intelligence firm, CryptoQuant, in an April 14 post on X.<\/p>\n The CEO of the onchain data provider, Ki Young Ju, said:<\/p>\n “When the total assets under management of spot Bitcoin ETF products experience a significant decrease, it can be considered a substantial withdrawal of institutional investors.”<\/p><\/blockquote>\n ETF demand is cooling.<\/p>\n A sharp drop in Bitcoin spot ETF assets signals institutional outflows.<\/p>\n Watch this trend closely. pic.twitter.com\/IVVNL1kPYy<\/a><\/p>\n — CryptoQuant.com (@cryptoquant_com) April 14, 2025<\/a><\/p><\/blockquote>\n Market sentiment has shifted bearish, with bulls notably absent, according to CryptoQuant.<\/p>\n Its head of research, Julio Moreno, shared<\/a> a chart showing that the Bull Score Index, a metric that gauges Bitcoin’s market health, has been Off (below 50) for 58 of the last 60 days.<\/p>\n This marks the longest streak of days with the metric in bearish territory since September 2022, when Bitcoin was firmly in a bear market.<\/p>\n “Bull off” suggests a decline in bullish momentum or a weakening of bullish sentiment in the market, potentially signaling a continuation of the current bearish conditions. This condition is historically associated with negative price trends. <\/p>\n “Similar patterns occurred in July 2021, January 2022, and June 2022, when the Index stayed below 50 for 60 consecutive days during periods of sharp market declines.”<\/p><\/blockquote>\n Bitcoin bull score index. Source: <\/em>CryptoQuant<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Additionally, Bitcoin accumulation by large investors remains weak.<\/p>\n The chart below shows whale holdings have declined by approximately 30,000 BTC over the last seven days. Their monthly accumulation rate dropped from 2.7% at the end of March to just 0.5%, its slowest pace since Feb. 20.<\/p>\n “This is happening in the context of US-China trade tensions as a result of US tariffs<\/a>.”<\/p><\/blockquote>\n Bitcoin: Total whale holdings and % monthly change. Source: CryptoQuant<\/em><\/p>\n<\/figcaption><\/figure>\n This absence of bullish conviction leaves Bitcoin vulnerable to further sell-offs as speculative traders and short-term holders capitulate. Without a catalyst to reignite bullish momentum, the market struggles to find a floor, pushing prices lower.<\/p>\n Related: <\/strong><\/em>Bitcoin trader sees gold ‘blow-off top’ as XAU nears new $3.3K record<\/strong><\/em><\/a><\/p>\n BTC’s drop today is part of a prevailing downtrend that began when the price was rejected from a major resistance zone, as shown in the chart below.<\/p>\n Bitcoin’s latest recovery attempt<\/a> was curtailed by this resistance zone, namely at the 50-day simple moving average (SMA) ($84,180) and the 200-day SMA ($87,650). <\/p>\n BTC\/USD daily chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n The next support level to watch is the $80,000 psychological level. Further down, the main area of interest lies between the $74,400 range low (from April 7) and the $76,600 low reached on March 11.<\/p>\n These are important levels for Bitcoin to maintain a bullish structure, according to MN Capital founder Michael van de Poppe.<\/p>\n #Bitcoin<\/a> is still stuck in the range, and as long as it stays above $80K, I think we’ll be fine with further upwards momentum on this one. pic.twitter.com\/oIXG9FyqKS<\/a><\/p>\n — Michaël van de Poppe (@CryptoMichNL) April 16, 2025<\/a><\/p><\/blockquote>\n\n
Negative spot Bitcoin ETF flows return<\/h2>\n
\n
Bitcoin bulls are absent<\/h2>\n
Moving averages cap Bitcoin’s price<\/h2>\n
\n