Bitcoin dropped below the $75K-$76K support region this week, confirming the bearish trend that's been building since late May. Sellers are firmly in control, and the largest cryptocurrency is now eyeing a dense support confluence around $70K-$72K. The move comes as spot ETF inflows—once a key driver of rallies—have flattened, signaling a sharp pullback in institutional buying appetite.
Below $75K: What happened
The $75K-$76K level had held as a floor for several days, but selling pressure finally overwhelmed buyers. On the 4-hour chart, bearish momentum is accelerating: lower highs dominate, and sellers are hitting bids aggressively. Bitcoin's inability to sustain any rally above $80K-$82K in recent weeks is partly tied to the slowdown in spot ETF inflows. Without that institutional tailwind, each bounce gets sold.
The $70K-$72K level
Right now BTC is approaching a major support confluence around $70K-$72K. That zone aligns with the 100-day moving average near $73K, an ascending trendline that's held since last fall, and a historical order block where price previously consolidated. If buyers can defend that area, a short-term bullish pullback could push price back to $74K-$76K. But if it fails, the next stops are $65K-$66K and then the $60K-$63K demand region.
ETF flows quiet
Cumulative ETF inflows have weakened noticeably this month. Flattening flows suggest institutional demand is cooling—no aggressive buying, just tepid accumulation at best. Historically, strong bullish phases in Bitcoin have been accompanied by accelerating ETF inflows. Right now we're seeing the opposite. That's a big reason the market can't hold rallies above $80K.
Short-term outlook
The overall market structure remains bearish unless BTC can reclaim $75K-$76K and stabilize above it. That's a tall order given current momentum. The next concrete event to watch is whether buyers step in at the $70K-$72K confluence. If they don't, a slide toward $65K-$66K looks increasingly likely.
