$BTC — Echoes of 2021: Is Another Correction Lining Up?
#Bitcoin is holding firm around $89,500, but beneath the surface, structural imbalances are starting to show. The current setup closely mirrors the 2021–2022 transition phase, where stable price action masked growing internal weakness.
🔹 Demand Warning Signals
Bitcoin’s 30-day real demand has flipped deeply negative, showing a deficit in the 60,000–80,000 BTC range.
This isn’t staking or passive holding — it’s active distribution. Miners and long-term holders are selling, while new buyers aren’t absorbing supply fast enough.
Back in 2021, prolonged negative demand like this preceded a sharp drawdown. The current strength feels more like a late-cycle push than fresh accumulation.
🔸 Institutional Flow Is Reversing
Spot ETFs are bleeding capital, with over $1.3B in net outflows per week.
Total ETF AUM remains high at $115.9B, but the direction matters more than the headline number. Consecutive red bars suggest distribution, not accumulation.
🔹 Fragile Stability
Negative demand (–80k $BTC ) combined with sustained ETF outflows (~$1.3B/week) puts the market in a vulnerable spot. Unless liquidity conditions ease or ETF flows stabilize quickly, downside risk remains elevated. The $89.5K level is being tested, not secured.
Smart money appears to be distributing while on-chain demand stays negative.
Are you defending $89K — or preparing for a 2021-style reset?
Research and insights referenced from #BlackCatCrypto are for informational purposes only and do not constitute investment advice.
