Here we go again, starting to fall and turning bearish! Everything looks bad now.

Analysis: Bitcoin demand is contracting internally, with multiple indicators showing clear outflows from retail and large investors.
On April 4th, CryptoQuant's analysis report indicated a disconnect between market sentiment and capital flow: the Fear & Greed Index is in extreme fear territory (8–14), but ETF net inflows in March exceeded $1 billion; Coinbase Premium Index remains negative, reflecting limited participation from US institutions. Geopolitical tensions (Iran conflict) caused price volatility, and market strategies are shifting to a wait-and-see approach. Overall demand is slowly fading rather than panic selling.
Although Bitcoin has fallen about 47% from its October 2025 all-time high of $126,000—much less than the 85%+ crashes seen in 2013 and 2017—analyst Zack Wainwright notes this is a sign of the market maturing, with volatility gradually compressing.
Potential catalysts include: Morgan Stanley receiving approval for low-cost Bitcoin ETFs, which will provide access for $16k managed by 16k financial advisors, and Strategy STRC preferred stock products continuously buying 44,000 BTC/month, potentially providing stable buying pressure. Short-term technical indicators suggest that if Iran tensions ease, Bitcoin could rebound to $71,500–$81,200.
Based on various indicators, CryptoQuant concludes: Bitcoin's internal demand is shrinking, and current price support relies on institutional ETF inflows, Strategy purchases, and new channels absorbing retail and large holder selling pressure. (CoinDesk)$BTC
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