Odaily reports that Bitfinex has released a new analysis report, which points out that Bitcoin fell to a low of $77,041 last week, with a pullback of 29.7%, which is the second deep correction in this bull market. At the same time, the continuous outflow of the US spot Bitcoin ETF (a total of $921.4 million last week) indicates that institutional buyers do not yet have enough strength to offset the selling pressure. Historically, when the inflow of new capital slows down and the cost base trend changes, it indicates that the demand environment is weakening. As Bitcoin struggles to maintain above critical levels, this trend is becoming increasingly evident. Without new buyers entering the market, Bitcoin may face the risk of long-term consolidation, and may even fall further as weaker buyers continue to exit their positions. The key factor to watch is whether long-term holders or institutional demand will reappear at lower market levels. If more well-funded investors start to absorb Bitcoin sell-offs, it may signal a shift towards accumulation, which could stabilize the price trend and reverse market sentiment.