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Bitcoin Price Enters New Downtrend as On-Chain Demand Weakens, CryptoQuant Warns

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BTC
$87,451.20-1.34%
Bitcoin’s price may be entering a new downtrend as on-chain data shows weakening demand, according to on-chain analysis from CryptoQuant. The firm says the recent drop is due to slowing buyer interest, not supply events like halvings. Analysts flag $70,000 as a key support level, with $56,000 next if it breaks. US spot Bitcoin ETFs are now net sellers, and derivatives show lower long-term funding rates. A 2026 recovery is still possible if demand stabilizes.
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