Bitcoin fell to a nine-month low of $75,519 amid a prolonged market slump, erasing gains from earlier in the year. Analyst data indicates fresh capital inflows have dried up while selling pressure from spot ETFs and exchanges has intensified, suggesting a sustained period of weakness for the cryptocurrency.
Bitcoin touched its lowest price since April 2025, briefly hitting $75,519 before recovering to approximately $78,862. The asset was down roughly 4.6% on daily charts and 10% over the past week.
According to analyst Ki Young Ju, the Bitcoin Realized Cap has flatlined, signaling no new capital is entering the market. The analyst noted that when market capitalization declines in that environment, it signals that the market is in a deep bearish zone.
Institutional accumulation that previously supported prices has stalled. Strategy (formerly MicroStrategy) had pumped more than $50 billion into Bitcoin between 2024 and 2026, increasing its holdings from 189,000 to 712,000 BTC.
Meanwhile, spot Bitcoin ETFs have seen consistent outflows, including $1.3 billion over two days in late January. Data from SoSoValue shows net inflows occurred only once in a recent ten-day period.
Exchange activity further confirms a distribution phase, with CryptoQuant data showing three consecutive days of net inflows exceeding 87,000 BTC sold. This trend points to aggressive spot selling by investors.
The sell-off triggered significant liquidations, with CoinGlass reporting $736 million in long positions wiped out. Bitcoin’s Stochastic Ergodic Indicator fell to -0.46, reflecting strong downward momentum.
Technical analysis suggests Bitcoin is positioned for prolonged weakness with key support near $76,000. For a bullish reversal, the asset would need to reclaim ground between $85,000 and $92,000.
