An analysis said bitcoin (BTC) faces growing risks of further declines to the $72,000 level as slowing demand coincides with expanding selling pressure.

On May 25 (local time), blockchain media outlet Cointelegraph reported that bitcoin has slid about 6.5 percent from a recent high above $82,000. It said failure to hold key support levels is adding to downside pressure.

The market is focusing first on a break in the technical trend. Bitcoin met resistance near $82,000, the top of an ascending parallel channel that has been in place since early February. That zone has served as the upper boundary of the uptrend. In the past, each pullback from this trendline led prices to fall about 11 to 14 percent to the lower end of the channel. If the same pattern repeats, bitcoin could fall about 7 percent from its current price to around $72,000.

Short-term momentum has also weakened. The relative strength index (RSI) fell to 48 from around 69 on the 6th. That is read as a signal that buying dominance is weakening and downside momentum is increasing. Analyst CryptoJelleNL wrote on X, formerly Twitter, that bitcoin has officially lost its 100-day and 50-day exponential moving averages. Axel Adler Jr. also said bitcoin lost upside momentum at a time when the macro environment deteriorated sharply.

Concerns are also growing over key price levels. Trader Anup Dhungana said bitcoin briefly fell to $74,100 and swept May liquidity before a reaction emerged. Michaël van de Poppe, founder of MN Capital, cited the $75,000 to $76,000 zone as a decisive support level. If that area breaks, $74,000 and $71,400 could be the next lines of defense, and he left open the possibility of a retest of $60,000, the 2026 low. He added that if a Middle East peace agreement emerges within days, bitcoin could climb back to a "higher range" above $80,000.

On-chain and exchange fund flows were also cited as burdens. Asset manager Swissblock said the bitcoin risk index has re-entered a high-risk zone. It added that this alone does not confirm a downside breakdown. It means warning signals have turned on, but it is not yet at the stage to conclude the trend has broken.

Bitcoin inflows to exchanges are also rising. Binance has seen net inflows for about 10 straight days. Weekly average inflows rose to 1,190 BTC from 378 BTC on the 16th, more than tripling in less than two weeks. CryptoQuant analyst Darkfost said that when inflows appear predominantly and persistently on large exchanges such as Binance, they have traditionally been interpreted as a potential sell signal. The more coins deposited at exchanges, the higher the chance they lead to actual selling.

Demand indicators have weakened further. Bitcoin's apparent demand is about minus 147,000 BTC, the lowest level this year and the weakest reading since December 2025. Darkfost assessed that demand continues to contract gradually. After the metric last fell to this level in December 2025, bitcoin dropped another 33 percent to a multi-year low below $60,000 on Feb. 6, 2026.

This trend is also aligning with outflows from spot exchange-traded funds (ETFs). The market is leaving open the possibility that if weak demand and ETF outflows continue, bitcoin could enter a long period of sideways movement across the short-to-mid-term range, or slide further toward $65,000. As a result, whether bitcoin can defend the $76,000 level, net inflows to Binance and a rebound in demand indicators are emerging as key variables that could determine bitcoin's near-term direction.

And now the warning is flashing. The Risk Index has re-entered high-risk territory. That doesn’t confirm breakdown yet. But it confirms that selling pressure is no longer being fully absorbed. This is exactly why the low-risk regime was so crucial: As long as Risk stayed… https://t.co/5LcM9CATei pic.twitter.com/gA29XolM5U