Bitcoin Bear Market Deepens on 6‑Month Low; ETFs See Heavy Outflows

Bitcoin bear market pressure intensified Friday, with the world’s largest cryptocurrency falling to a fresh six‑month low as selling spread across digital‑asset markets.

By mid‑afternoon, bitcoin traded near $95,500, down about 4.2% on the day, after briefly touching $94,500—its lowest level since May 6. The renewed slide places the token firmly in bear‑market territory, off 24.4% from its October 6 record high of $126,272.

A report earlier in the day said U.S.‑listed spot bitcoin ETFs posted their second‑largest single‑day net outflows since launch, adding to the cautious tone. Even so, technicians noted that bitcoin’s relative strength index fell to 30.45, edging toward levels often interpreted as oversold.

Price at a six‑month low

The selloff gathered pace into the afternoon as bitcoin broke below recent support and printed a new six‑month trough. Traders said the move capped a disappointing stretch for those hoping late‑year momentum would follow the record highs set earlier in 2025.

With the decline now exceeding the 20% threshold that commonly defines a bear phase, the Bitcoin bear market frame has shifted from a short‑term pullback to a more durable downtrend that investors are monitoring closely.

ETFs see notable net outflows

Flows added to the narrative. According to a report, U.S.‑listed spot bitcoin ETFs recorded their second‑largest single‑day net outflows since inception. While the data do not speak to any one product’s performance, the reversal in demand coincided with Friday’s leg lower and reinforced defensive positioning across the Bitcoin bear market.

Investors who track flows often view large outflow days as a proxy for risk appetite. In this case, reduced net demand from spot ETFs aligned with the price weakness, signaling a more cautious stance from fund buyers.

Technical watch: RSI nears oversold

Despite the negative tape, some market participants pointed to a potential contrarian signal. Bitcoin’s relative strength index slipped to 30.45, near the widely watched 30 line that many interpret as an oversold reading.

Historically, a sub‑30 RSI has sometimes coincided with stabilization or short‑term rebounds, though technicians stress that such signals are not guarantees. Notably, Bitcoin last entered oversold territory on February 28 when it traded near $84,000. For traders looking for evidence that the current Bitcoin bear market is tiring, the RSI level may offer a modest source of reassurance.

Measuring the drawdown

• Intraday low: $94,500 (lowest since May 6)
• Recent price: ~ $95,500, down 4.2% on the day
• Distance from record high: −24.4% from $126,272 on October 6

Those markers frame a Bitcoin bear market that has progressed far enough to challenge bullish assumptions, yet remains within the kind of cyclical drawdown that long‑time participants have seen before.

Sentiment and positioning

Friday’s drop dented sentiment among traders who had hoped for a renewed push into year‑end. The combination of falling prices, ETF outflows, and a test of oversold territory sharpened attention on whether downside momentum is close to exhaustion.

For some investors, the RSI reading offers a reason to look for stabilization. For others, the emphasis is on flow data and whether spot ETF demand can turn back to the positive side. In the current Bitcoin bear market phase, both signals are being watched in tandem.

A notable buyer in the downturn

Even as prices fell, one high‑profile buyer reiterated a constructive stance. Strategy (MSTR) executive chairman Michael Saylor told CNBC on Friday that the company was buying “quite a lot” of bitcoin.

The comment arrived against the backdrop of a Bitcoin bear market downdraft, underscoring the divergence between tactical selling pressure and the accumulation approach adopted by certain corporate holders.

What’s driving attention now

• The six‑month low confirms a decisive break toward the lower end of the year’s trading range.
• ETF net outflows underline waning risk appetite among fund investors on the day.
• The RSI at 30.45 nears an oversold threshold that some traders associate with potential stabilization or a short‑term bounce.
• A prominent corporate buyer signaled continued accumulation despite the broader downtrend.

Together, these elements define the current Bitcoin bear market picture: negative near‑term flows and price action balanced against a technical backdrop that may be approaching fatigue.

Market structure and the road ahead

While the pullback has been sharp, technical readings suggest the move may be nearing an area where momentum can slow. That said, technical indicators are only one piece of the puzzle. Traders will be watching whether ETF flows moderate, whether spot demand rebuilds, and how price behaves around the recent trough.

In a Bitcoin bear market environment, participants often focus on the interplay between liquidity, flows, and sentiment. Friday’s developments concentrated all three, with price discovery testing lower levels even as an oversold signal came into view.

ETF lineup in focus

U.S.‑listed spot bitcoin ETFs referenced by market participants include:
IBIT, ARKB, GBTC, BRRR, BTCO, HODL, BTCW, FBTC, BITB, and EZBC.

These products have become a key lens on broad investor demand. Large day‑to‑day shifts—such as the second‑largest single‑day net outflows since launch—frequently correspond with notable moves in spot pricing.

Why the six‑month low matters

Breaking to a new six‑month low resets expectations for support and resistance and can provoke additional risk management among leveraged or short‑term traders. In the context of the Bitcoin bear market, it also forces a reassessment of timelines, as investors evaluate whether the retracement is a passing phase or a longer consolidation after the all‑time high.

The proximity of the RSI to oversold levels provides a counterpoint, suggesting that bearish momentum could be close to exhaustion. But until flows improve or price stabilizes, caution is likely to remain the default posture.

Key numbers traders are tracking

• $94,500: intraday low that marked the new six‑month trough
• ~$95,500: recent trade
• 30.45: RSI reading approaching oversold
• −24.4%: drawdown from the October 6 all‑time high of $126,272

These figures will frame near‑term discussions about whether the Bitcoin bear market is entering a stabilization phase or still searching for a bottom.

Outlook: What could signal a shift

Investors will watch for:

• A turn in ETF flow trends following the large outflow day
• Price action is holding above the new trough and building a base
• RSI bouncing back above 30 with improving momentum

Any combination of those inputs would hint at fatigue within the Bitcoin bear market. Conversely, renewed weakness alongside persistent outflows would suggest the downtrend remains in control.

Conclusion

Bitcoin’s downtrend accelerated into a new six‑month low, solidifying a Bitcoin bear market that now totals a 24.4% slide from October’s all‑time high. A report of the second‑largest single‑day net ETF outflows since launch added pressure, while the RSI at 30.45 edged toward oversold territory—offering a modest counter‑signal for those looking for stabilization.

With a prominent corporate buyer saying it is purchasing “quite a lot” of bitcoin even as prices fall, the market’s next phase will likely hinge on whether flows stabilize and whether technicals confirm that bearish momentum is tiring. Until then, caution anchors the narrative.

FAQ’s