Bitcoin Correction Deepens As Analysts Warn About The 70000 Level

Bitcoin is going through its first real moment of doubt since the massive return of institutional capital to the crypto market. While spot ETFs record spectacular outflows and short-term traders sell at a loss, several analysts now fear a more brutal correction of BTC. Between signs of capitulation and resistance from long-term investors, the market enters a decisive phase where technical supports could determine the next bullish cycle.

The crypto market dives again under selling pressure

Bitcoin extended its correction as outflows from US spot ETFs abruptly accelerate. Indeed, Bitcoin ETFs recorded $648.6 million in net outflows in a single day, while BTC-related investment products display weekly withdrawals of $981.5 million.

At the same time, CryptoQuant indicates that over 10,000 BTC held by short-term investors were sent to Binance at a loss, a sign of growing panic in the market. Trader Alek_Carter summarizes this change in mood: “markets are being violently shaken. Capital is rapidly leaving risky assets, panic begins to settle in, and traders massively reduce their risk exposure.”

A few levels now concentrate traders’ attention :

• $76,000, considered as a first major support ;
• $74,500 to $76,000, a technical zone monitored by Michael van de Poppe ;
• $70,000, identified as a possible retest zone of the breakout ;
• $65,000, a threshold mentioned in case of a bearish acceleration.

Michael van de Poppe believes the market remains under pressure as long as BTC struggles to regain these levels : “if this zone does not hold, the market will likely dive again towards the recent rally lows and test the $65,000 threshold as support.”

On his side, Alex Marzell mentions a possible return of bitcoin to “the breakout area located around the $70,000 support.” These projections come as the market chains several consecutive daily red candles, reflecting a loss of momentum after the records reached earlier in the cycle.

Long-term investors nevertheless continue to accumulate bitcoin

Despite this tension phase, several on-chain data show that historical bitcoin holders are not leaving the market. The HODL Waves indicators, which measure bitcoin holding durations, reveal an increase in long-term held positions, a behavior often associated with institutional investors and the most solid wallets in the market. This dynamic contrasts sharply with sales by short-term traders, who are more exposed to immediate volatility and panic movements.

CryptoQuant also estimates that the zone between $65,900 and $70,500 could represent the potential floor of this correction. Analyst Sunny Mom explains: “our estimated price range for the bottom of this cycle is between $65,900 and $70,500.” This reading suggests the market might go through a cleansing phase before a possible trend recovery. Some investors even consider this pullback as a necessary phase after several months of sustained rise fueled by spot ETFs and the arrival of new institutional capital.

The future now depends on bitcoin’s ability to defend its major supports against intensifying selling pressure. Stabilizing above the monitored zones could strengthen the idea of a temporary technical correction. Conversely, a clear break below $70,000 would revive fears of a deeper pullback towards levels mentioned by several analysts. In a market now dominated by institutional flows and rapid investor reactions, each session becomes a decisive test for BTC’s trajectory.