Bitcoin Price Drops 2% As ETFs Bleed, CryptoQuant Eyes $72K

The Bitcoin price has slipped 2% over the last 24 hours to trade at $101,647 as of 4.05 a.m. EST with the daily trading volume rising 37% to $110.41 billion.

The correction follows heavy selling pressure as US spot Bitcoin and Ethereum ETFs posted nearly $800 million in outflows yesterday. Worries are rising across the crypto market about weaker demand, bearish institutional signals, and what comes next for the BTC price.

Major losses started earlier this week when Bitcoin crashed through the key $100,000 support. The sharp decline triggered a wave of concern, sparking extreme fear among traders and analysts.

According to CryptoQuant, if the $100,000 level does not hold, Bitcoin could slide much lower, possibly dropping to $72,000 in the next couple of months.​

For several days in a row, funds like BlackRock’s IBIT saw huge withdrawals, pulling liquidity from the Bitcoin market just as other signals turned negative.​

Bitcoin treasury demand is falling off a cliff.

One of the main reasons we’re seeing this dump. pic.twitter.com/B4TPipd9sB

— Crypto Rover (@cryptorover) November 5, 2025

When ETF inflows are positive, they usually help Bitcoin by reducing available supply, but when they turn negative, they have the opposite effect.

On-Chain Trends For Bitcoin Signal Waning Demand

CryptoQuant’s research points to a steady drop in spot demand since a massive liquidation event hit the market on Oct. 11. That day saw over $19 billion in leveraged positions wiped out, marking the largest single liquidation in crypto history. Since then, indicators such as spot exchange flows, ETF flows, and the Coinbase premium have been mostly negative.​

Daily Change in Total Bitcoin Holdings Source: CryptoQuant

The Bull Score Index, which tracks sentiment and momentum, has slumped to 20. This low score signals a clearly bearish market. Lower demand from US investors and a negative Coinbase premium show that American buyers are now more reluctant or sell more than they are buying.

Bitcoin Bull Score Index Source: CryptoQuant

Moreover, historical parallels are being drawn to previous bear market periods, when Bitcoin’s spot demand weakened and price corrections extended. With ETF outflows growing and trading activity dropping on exchanges, confidence in a fast rebound remains very low among analysts watching the blockchain data.​

Bitcoin Price Prediction: Could BTC Drop To $72,000?

The technical picture for Bitcoin is growing more bearish. According to CryptoQuant and analysts like Julio Moreno, the most important level to watch is $100,000. If Bitcoin trades below this period for a sustained period of time, the risk of a fall to $72,000 increases sharply in the next one or two months.​

On the weekly chart, Bitcoin is still in a wide rising channel, but recent candles look heavy, and sellers are pushing the price towards the middle of the range. The $102,940 level matches Bitcoin’s 50-week simple moving average (SMA), which acted as support before but may now become resistance.

BTCUSD Analysis Source: Tradingview

If BTC fails to reclaim and hold above that line soon, more downside could be ahead.

Meanwhile, momentum indicators point to growing weakness: The RSI (Relative Strength Index) is around 44, a bearish reading that suggests bears are in charge and there is room for a continued drop.

The MACD (Moving Average Convergence Divergence) has crossed negative, supporting the idea that a deeper downtrend is forming. While the CMF (Chaikin Money Flow) is barely above zero, reflecting minimal capital inflow.

If selling pressure persists and Bitcoin cannot build new support above $100,000, the channel’s lower boundary, currently near $75,000, will likely be tested next. This lines up with CryptoQuant’s warning of a potential drop to $72,000. Historical support around $80,000 to $85,000 may offer only brief relief if panic selling takes hold.

On the upside, if Bitcoin quickly recovers and reclaims $103,000–$105,000, it could begin to stabilize. Key resistance lies at $110,000 and again at $125,000, where many traders will be watching to see if bulls can return in force. Still, with ETF outflows and on-chain weakness dominating the headlines, sentiment remains cautious for now.​

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