04-16-2025, 02:12 PM
Why is Bitcoin price down today?
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDgvZDM2MDViNmItMGVmZi00NmY2LWE0NmYtYjE1ZWMzYjNlY2I=.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDgvZDM2MDViNmItMGVmZi00NmY2LWE0NmYtYjE1ZWMzYjNlY2I=.jpg" alt="Why is Bitcoin price down today?"></p><p>Bitcoin’s (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">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.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-4ab7-70e9-b9ce-6000cba28aa8" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>BTC/USD daily chart. Source: Cointelegraph/</em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/uURdJVNQ/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/uURdJVNQ/"><em>TradingView</em></a></p></figcaption></figure><p>Several factors are behind Bitcoin’s decline today, including:</p><ul><li><p>Sluggish institutional demand as spot Bitcoin ETF flows turn negative.</p></li><li><p>Bullish momentum stalls.</p></li><li><p>Low whale accumulation.</p></li><li><p>BTC price rejection at key trendlines.</p></li></ul><h2>Negative spot Bitcoin ETF flows return</h2><p>Spot Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/different-types-of-etfs" rel="null" target="null" text="null" title="null">exchange-traded funds</a> (ETFs) have been a significant driver of institutional interest, but recent data suggest the demand is waning.</p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/spot-bitcoin-etfs-see-772-m-outflow-as-investors-prepare-for-tariff-driven-inflation" rel="null" target="null" text="null" title="null">Spot Bitcoin ETFs</a> saw a total of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/spot-bitcoin-etfs-see-772-m-outflow-as-investors-prepare-for-tariff-driven-inflation" rel="null" target="null" text="null" title="null">$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 <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/how-trade-wars-impact-stocks-and-crypto" rel="null" target="null" text="null" title="null">trade tensions</a> increased and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/odds-us-recession-2025-over-61-kalshi" rel="null" target="null" text="null" title="null">fears of an economic recession grew</a>.</p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/should-bitcoin-investors-worry-about-flat-inflows-to-the-spot-btc-etfs" rel="null" target="null" text="null" title="null">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><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-4f49-72a1-9e13-510310f002b2" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>Spot Bitcoin ETF flows table. Source: Farside Investors</em></p></figcaption></figure><p>Investors are now closely monitoring spot Bitcoin ETFs as a persistent outflow trend could exacerbate the correction.</p><p>“ETF demand is cooling,” <a data-ct-non-breakable="null" href="https://x.com/cryptoquant_com/status/1911705250005733555" rel="null" target="null" text="null" title="null">said</a> a market intelligence firm, CryptoQuant, in an April 14 post on X.</p><p>The CEO of the onchain data provider, Ki Young Ju, said:</p><blockquote>“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.”</blockquote><blockquote class="twitter-tweet"><p lang="en" dir="ltr">ETF demand is cooling.<br><br>A sharp drop in Bitcoin spot ETF assets signals institutional outflows.<br><br>Watch this trend closely. <a href="https://t.co/IVVNL1kPYy">pic.twitter.com/IVVNL1kPYy</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1911705250005733555?ref_src=twsrc%5Etfw">April 14, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><h2>Bitcoin bulls are absent</h2><p>Market sentiment has shifted bearish, with bulls notably absent, according to CryptoQuant.</p><p>Its head of research, Julio Moreno, <a data-ct-non-breakable="null" href="https://x.com/jjcmoreno/status/1912177074548150368" rel="null" target="null" text="null" title="null">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><p>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><p>"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><blockquote>“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.”</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-5d12-7ae2-a60c-47e6f80d00e3" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>Bitcoin bull score index. Source: </em><a data-ct-non-breakable="null" href="https://x.com/jjcmoreno/status/1912177074548150368" rel="null" target="null" text="null" title="https://x.com/jjcmoreno/status/1912177074548150368"><em>CryptoQuant</em></a></p></figcaption></figure><p>Additionally, Bitcoin accumulation by large investors remains weak.</p><p>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><blockquote>“This is happening in the context of US-China trade tensions as a result of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-tariff-escalation-exposes-fractures-global-financial-system" rel="null" target="null" text="null" title="null">US tariffs</a>.”</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-61f0-78c6-b788-390e63fdb563" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>Bitcoin: Total whale holdings and % monthly change. Source: CryptoQuant</em></p></figcaption></figure><p>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><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-trader-gold-blow-off-top-xau-new-3-3-k-record" rel="null" target="null" text="null" title="null"><em><strong>Bitcoin trader sees gold 'blow-off top' as XAU nears new $3.3K record</strong></em></a></p><h2><br>Moving averages cap Bitcoin’s price</h2><p>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><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-bucks-downtrend-with-rally-to-85-8-k-are-btc-bulls-really-back" rel="null" target="null" text="null" title="null">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><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-6705-7af8-b995-ecc5254e59f4" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>BTC/USD daily chart. Source: Cointelegraph/</em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/MRL1NEtR/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/MRL1NEtR/"><em>TradingView</em></a></p></figcaption></figure><p>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><p>These are important levels for Bitcoin to maintain a bullish structure, according to MN Capital founder Michael van de Poppe.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#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. <a href="https://t.co/oIXG9FyqKS">pic.twitter.com/oIXG9FyqKS</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1912396610308284707?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>As earlier reported by Cointelegraph, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-death-cross-still-present-despite-rally-to-86-k-should-btc-traders-be-afraid" rel="null" target="null" text="null" title="null">Bitcoin’s death cross is still in play</a> on the daily timeframe, which could further dampen hopes of a short-term rally.</p><p class="post-content__disclaimer" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDgvZDM2MDViNmItMGVmZi00NmY2LWE0NmYtYjE1ZWMzYjNlY2I=.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDgvZDM2MDViNmItMGVmZi00NmY2LWE0NmYtYjE1ZWMzYjNlY2I=.jpg" alt="Why is Bitcoin price down today?"></p><p>Bitcoin’s (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">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.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-4ab7-70e9-b9ce-6000cba28aa8" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>BTC/USD daily chart. Source: Cointelegraph/</em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/uURdJVNQ/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/uURdJVNQ/"><em>TradingView</em></a></p></figcaption></figure><p>Several factors are behind Bitcoin’s decline today, including:</p><ul><li><p>Sluggish institutional demand as spot Bitcoin ETF flows turn negative.</p></li><li><p>Bullish momentum stalls.</p></li><li><p>Low whale accumulation.</p></li><li><p>BTC price rejection at key trendlines.</p></li></ul><h2>Negative spot Bitcoin ETF flows return</h2><p>Spot Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/different-types-of-etfs" rel="null" target="null" text="null" title="null">exchange-traded funds</a> (ETFs) have been a significant driver of institutional interest, but recent data suggest the demand is waning.</p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/spot-bitcoin-etfs-see-772-m-outflow-as-investors-prepare-for-tariff-driven-inflation" rel="null" target="null" text="null" title="null">Spot Bitcoin ETFs</a> saw a total of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/spot-bitcoin-etfs-see-772-m-outflow-as-investors-prepare-for-tariff-driven-inflation" rel="null" target="null" text="null" title="null">$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 <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/how-trade-wars-impact-stocks-and-crypto" rel="null" target="null" text="null" title="null">trade tensions</a> increased and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/odds-us-recession-2025-over-61-kalshi" rel="null" target="null" text="null" title="null">fears of an economic recession grew</a>.</p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/should-bitcoin-investors-worry-about-flat-inflows-to-the-spot-btc-etfs" rel="null" target="null" text="null" title="null">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><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-4f49-72a1-9e13-510310f002b2" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>Spot Bitcoin ETF flows table. Source: Farside Investors</em></p></figcaption></figure><p>Investors are now closely monitoring spot Bitcoin ETFs as a persistent outflow trend could exacerbate the correction.</p><p>“ETF demand is cooling,” <a data-ct-non-breakable="null" href="https://x.com/cryptoquant_com/status/1911705250005733555" rel="null" target="null" text="null" title="null">said</a> a market intelligence firm, CryptoQuant, in an April 14 post on X.</p><p>The CEO of the onchain data provider, Ki Young Ju, said:</p><blockquote>“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.”</blockquote><blockquote class="twitter-tweet"><p lang="en" dir="ltr">ETF demand is cooling.<br><br>A sharp drop in Bitcoin spot ETF assets signals institutional outflows.<br><br>Watch this trend closely. <a href="https://t.co/IVVNL1kPYy">pic.twitter.com/IVVNL1kPYy</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1911705250005733555?ref_src=twsrc%5Etfw">April 14, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><h2>Bitcoin bulls are absent</h2><p>Market sentiment has shifted bearish, with bulls notably absent, according to CryptoQuant.</p><p>Its head of research, Julio Moreno, <a data-ct-non-breakable="null" href="https://x.com/jjcmoreno/status/1912177074548150368" rel="null" target="null" text="null" title="null">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><p>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><p>"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><blockquote>“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.”</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-5d12-7ae2-a60c-47e6f80d00e3" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>Bitcoin bull score index. Source: </em><a data-ct-non-breakable="null" href="https://x.com/jjcmoreno/status/1912177074548150368" rel="null" target="null" text="null" title="https://x.com/jjcmoreno/status/1912177074548150368"><em>CryptoQuant</em></a></p></figcaption></figure><p>Additionally, Bitcoin accumulation by large investors remains weak.</p><p>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><blockquote>“This is happening in the context of US-China trade tensions as a result of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-tariff-escalation-exposes-fractures-global-financial-system" rel="null" target="null" text="null" title="null">US tariffs</a>.”</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-61f0-78c6-b788-390e63fdb563" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>Bitcoin: Total whale holdings and % monthly change. Source: CryptoQuant</em></p></figcaption></figure><p>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><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-trader-gold-blow-off-top-xau-new-3-3-k-record" rel="null" target="null" text="null" title="null"><em><strong>Bitcoin trader sees gold 'blow-off top' as XAU nears new $3.3K record</strong></em></a></p><h2><br>Moving averages cap Bitcoin’s price</h2><p>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><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-bucks-downtrend-with-rally-to-85-8-k-are-btc-bulls-really-back" rel="null" target="null" text="null" title="null">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><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01963dff-6705-7af8-b995-ecc5254e59f4" title="" alt="Why is Bitcoin price down today?"><figcaption style="text-align: center;"><p><em>BTC/USD daily chart. Source: Cointelegraph/</em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/MRL1NEtR/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/MRL1NEtR/"><em>TradingView</em></a></p></figcaption></figure><p>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><p>These are important levels for Bitcoin to maintain a bullish structure, according to MN Capital founder Michael van de Poppe.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#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. <a href="https://t.co/oIXG9FyqKS">pic.twitter.com/oIXG9FyqKS</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1912396610308284707?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>As earlier reported by Cointelegraph, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-death-cross-still-present-despite-rally-to-86-k-should-btc-traders-be-afraid" rel="null" target="null" text="null" title="null">Bitcoin’s death cross is still in play</a> on the daily timeframe, which could further dampen hopes of a short-term rally.</p><p class="post-content__disclaimer" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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