Ecosystem English News Indices In Depth Learn Newsletters Crypto Bonus Research Podcasts About Nancy Lubale Apr 16, 2025 Why is Bitcoin price down today? US tariffs remain a key headwind, and Bitcoin may drop toward the range low of $74,400 in the coming days if the psychological $80,000 support level is lost. 1185 Total views 409 Total shares Listen to article 0:00 Markets News COINTELEGRAPH IN YOUR SOCIAL FEEDBitcoin’s (BTC) 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.BTC/USD daily chart. Source: Cointelegraph/TradingViewSeveral factors are behind Bitcoin’s decline today, including:Sluggish institutional demand as spot Bitcoin ETF flows turn negative.Bullish momentum stalls.Low whale accumulation.BTC price rejection at key trendlines.Negative spot Bitcoin ETF flows returnSpot Bitcoin exchange-traded funds (ETFs) have been a significant driver of institutional interest, but recent data suggest the demand is waning.Spot Bitcoin ETFs saw a total of $964 million in net outflows 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 increased and fears of an economic recession grew.Negative inflows into spot BTC ETFs signal waning demand from institutional investors. This lack of fresh capital reduces buying pressure, pushing prices down as supply outpaces demand.Spot Bitcoin ETF flows table. Source: Farside InvestorsInvestors are now closely monitoring spot Bitcoin ETFs as a persistent outflow trend could exacerbate the correction.“ETF demand is cooling,” said a market intelligence firm, CryptoQuant, in an April 14 post on X.The CEO of the onchain data provider, Ki Young Ju, said:“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.”ETF demand is cooling.A sharp drop in Bitcoin spot ETF assets signals institutional outflows.Watch this trend closely. pic.twitter.com/IVVNL1kPYy— CryptoQuant.com (@cryptoquant_com) April 14, 2025
Bitcoin bulls are absentMarket sentiment has shifted bearish, with bulls notably absent, according to CryptoQuant.Its head of research, Julio Moreno, shared 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.This marks the longest streak of days with the metric in bearish territory since September 2022, when Bitcoin was firmly in a bear market.”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. “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.”Bitcoin bull score index. Source: CryptoQuantAdditionally, Bitcoin accumulation by large investors remains weak.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.“This is happening in the context of US-China trade tensions as a result of US tariffs.”Bitcoin: Total whale holdings and % monthly change. Source: CryptoQuantThis 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.Related: Bitcoin trader sees gold ‘blow-off top’ as XAU nears new $3.3K recordMoving averages cap Bitcoin’s priceBTC’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.Bitcoin’s latest recovery attempt was curtailed by this resistance zone, namely at the 50-day simple moving average (SMA) ($84,180) and the 200-day SMA ($87,650). BTC/USD daily chart. Source: Cointelegraph/TradingViewThe 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.These are important levels for Bitcoin to maintain a bullish structure, according to MN Capital founder Michael van de Poppe.#Bitcoin 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— Michaël van de Poppe (@CryptoMichNL) April 16, 2025
As earlier reported by Cointelegraph, Bitcoin’s death cross is still in play on the daily timeframe, which could further dampen hopes of a short-term rally.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.#Bitcoin #Cryptocurrencies #Federal Reserve #Central Bank #Bitcoin Price #Bitcoin Regulation #Markets #Cryptocurrency Exchange #Interest Rate #BTC Markets Add reaction Editor’s Choice Buying Bitcoin vs gold: Which is easier for investors to purchase? Bitcoin whales absorb 300% of newly mined BTC supply — Is $100K next? Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC South Korean crypto emerges from failed coup into crackdown season Crypto podcasters should always assume their audience knows nothing Advertise with us News Markets Policy Business Tech & AI Deals NFTs Market Price Indices Crypto Exchanges Memecoins Heatmap Partner Converter Solana RPC In Depth Magazine Opinion Interview Features Investigation Learn Guides How to Tutorials Explained Glossary History of Crypto Top 100 2023 Top 100 2022 Top 100 2021 Top 100 2020 Industry Research Podcasts Press Releases Events Cointelegraph Accelerator Changelly Partner Switchere Partner About us Franchise Advertise Team Widgets Newsletters Contacts Are you a journalist or an editor? Join us MOBILE APPS COINTELEGRAPH NEWSLETTER Email Address Subscribe Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. FOLLOW US Terms of services and Privacy policy © Cointelegraph 2013 – 2025
