- Doctor Profit opened a short near $86,200 and targets $79,000, close to Bitcoin’s 50-week moving average.
- Bitcoin futures demand fell from 164,000 BTC to 3,000 BTC, while 30-day estimated demand dropped to -171,000 BTC.
- Bitcoin ETFs accumulated over 27,800 BTC this week, worth about $2.3B at an average price of $84,000.
Bitcoin analyst Doctor Profit expects a correction toward $79,000 despite maintaining a bullish outlook on the broader market. His forecast comes as Darkfost reports weakening Bitcoin demand, with futures demand falling sharply despite strong ETF accumulation. Bitcoin ETFs acquired more than 27,800 BTC this week, representing approximately $2.3 billion at an average price of $84,000.
Doctor Profit Sets $79,000 as Correction Target
Doctor Profit said Bitcoin nearly reached his $88,000 target after recovering from $60,000. The cryptocurrency climbed to $87,300, falling less than 1% short of his forecast. However, the analyst has shifted his short-term positioning after Bitcoin approached that level.
He entered a short position around $86,200 and placed additional short orders between $86,000 and $89,500. His first downside target is at $79,000, near the 50-week moving average. Doctor Profit plans to assess Bitcoin’s reaction at that level before deciding whether to close or maintain his short position.
The analyst identified bearish divergences across four indicators: daily RSI, ADX, MACD/PPO and MFI. While RSI, MACD/PPO and MFI show bearish divergences, ADX indicates weakening trend strength.
Despite the correction forecast, Doctor Profit maintains his longer-term bullish outlook. His spot holdings accumulated around $60,000 remain open, while he has also identified a liquidity area near $62,000.
Bitcoin Demand Declines Despite ETF Inflows
Meanwhile, analyst Darkfost reported a sharp decline in Bitcoin futures demand. The metric dropped from 164,000 BTC to just 3,000 BTC, while spot demand remained negative at -174,000 BTC.
Consequently, total estimated demand fell to -171,000 BTC on a 30-day cumulative basis. This occurred as Bitcoin climbed from $74,000 to $84,000 over 15 days.
Bitcoin ETFs Record $2.3 Billion in Accumulation
Despite weakening demand, Bitcoin ETFs accumulated more than 27,800 BTC this week, according to Darkfost. At an average price of $84,000, the purchases represented approximately $2.3 billion.
Darkfost identified this as the largest weekly ETF inflow since the April 2025 low. He also reported that ETF demand continued without signs of slowing, prompting product providers to adjust their Bitcoin reserves.
