Bitcoin pulled back to around $83,000 after climbing to $87,300, as prominent analyst Doctor Profit reiterated a short-term correction target of $79,000 despite bullish longer-term positioning and heavy spot ETF accumulation.
Doctor Profit said Bitcoin nearly hit his $88,000 target after recovering from $60,000, falling less than 1% short. He has entered a short position near $86,200 and placed additional short orders between $86,000 and $89,500. His first downside target is $79,000, close to Bitcoin’s 50-week moving average, and he plans to reassess only after that level is reached. His spot holdings from around $60,000 remain open, with a liquidity area identified near $62,000.
The analyst highlighted bearish divergences on four indicators: daily RSI, ADX, MACD/PPO and MFI, while noting ADX shows weakening trend strength.
Separately, analyst Darkfost reported a sharp decline in Bitcoin futures demand, from 164,000 BTC to just 3,000 BTC, while spot demand remained negative at -174,000 BTC. Total estimated demand fell to -171,000 BTC on a 30-day cumulative basis even as Bitcoin climbed from $74,000 to $84,000 over 15 days.
Despite weak demand signals, Bitcoin ETFs accumulated more than 27,800 BTC this week, worth approximately $2.3 billion at an average price of $84,000. Darkfost called it the largest weekly ETF inflow since the April 2025 low and said ETF demand continued without signs of slowing, prompting product providers to adjust their Bitcoin reserves.
