Bitcoin (BTC) is trying to steady itself after another bruising stretch for crypto and broader risk assets. At the time of writing, BTC was trading around $66,643, down about 3.8% on the day, after an intraday high of $69,789 and a low of $66,349. The move comes after a rough run in which Bitcoin briefly slipped below $69,000 as geopolitical tensions and risk-off sentiment kept traders on edge.
Against that backdrop, CryptoQuant’s latest reading on Binance flows is drawing attention. The firm said panic among short-term holders, the cohort usually considered the most reactive and least stable, has eased sharply. When Bitcoin fell below $60,000 earlier this year, short-term holders rushed to send roughly 100,000 BTC to Binance on a seven-day basis.
That wave has now cooled dramatically, with inflows divided by four and falling to about 25,000 BTC, the lowest level recorded in the data set. CryptoQuant framed that drop as a positive signal because it points to a real reduction in selling pressure at a time when the market still needs stability.
The chart tells the same story. The red inflow spikes that marked periods of fear have faded into a much lower and more controlled pattern, while Bitcoin’s price line has been trying to recover from a deep drawdown. CryptoQuant described the current phase as a consolidation after a rapid and significant devaluation.
It explained that Bitcoin had fallen more than 50% below its last all-time high before this base-building began. In practical terms, that means the market may finally be moving out of the most emotional part of the selloff and into a slower phase where buyers and sellers are testing the range rather than panicking out of it.
What to Expect From The Bitcoin Price?
The CryptoQuant post does not indicate the backdrop has turned bullish in a clean, straight line. Reuters reported this month that Citigroup cut its 12-month Bitcoin price prediction to $112,000 from $143,000, citing stalled progress on U.S. crypto market-structure legislation and a narrowing window for regulatory catalysts this year.
Citi also said Bitcoin could drop to $58,000 in a recessionary macro scenario, while calling about $70,000 an important level to watch. That matters because Bitcoin’s current price is still sitting below that threshold, which leaves bulls with some work to do before the market can claim a firmer recovery.
Macro risk is also still hanging over the market. Reuters noted that investors remain sensitive to geopolitical and tariff-related shocks, and Bitcoin has continued to trade like a high-beta risk asset whenever tensions rise. Even so, there are signs that institutional demand has not disappeared.
CoinShares said digital asset funds saw $230 million in weekly inflows in its latest report, with Bitcoin accounting for $219 million of that total. That does not look like a market in retreat. It looks more like a market that is still interested, but cautious and highly selective about when to add exposure.
Taken together, the overall message is fairly clear. Panic selling among short-term Bitcoin holders appears to be easing for now, Binance inflows are cooling for the leading cryptocurrency, and most importantly, Bitcoin is attempting to form a base after a harsh correction.
But with BTC still below a closely watched $70,000 area, policy uncertainty unresolved, and geopolitical volatility still capable of shaking sentiment in a single session, the next phase is more likely to be a grind than a breakout. For now, the market seems to be looking for something simple but important: fewer forced sellers, more patient buyers, and enough stability to turn consolidation into a real recovery.
