Bitcoin analyst Doctor Profit is positioning for a short-term correction toward $79,000, even as he maintains a bullish view on the broader market. His call comes amid weakening demand metrics and strong exchange-traded fund (ETF) accumulation, a combination that highlights how two of Bitcoin's main demand channels are currently pointing in opposite directions.

Writing on X, Doctor Profit said he entered a short position near $86,200 and set his first downside target at $79,000, a level close to Bitcoin's 50-week moving average, a long-term trend reference traders often use to gauge where multi-month momentum may slow. His forecast arrives as analyst Darkfost reports a sharp decline in Bitcoin futures demand, alongside one of the largest weekly ETF purchases on record: more than 27,800 BTC, worth approximately $2.3 billion at an average price of $84,000.

Doctor Profit Sets $79,000 as Correction Target

Doctor Profit noted that Bitcoin nearly reached his earlier $88,000 target after recovering from $60,000. The cryptocurrency climbed to $87,300, falling less than 1% short of his forecast. Following that move, he has shifted his short-term positioning.

In addition to the short opened around $86,200, he placed further short orders between $86,000 and $89,500. He plans to assess Bitcoin's reaction near $79,000 before deciding whether to close or maintain the position, making that level the key marker for anyone tracking his setup.

The analyst identified bearish divergences across four daily indicators: RSI, ADX, MACD/PPO and MFI. While RSI, MACD/PPO and MFI are showing bearish divergences — a pattern in which price rises while momentum readings weaken — ADX indicates weakening trend strength. Together, the four readings form the technical basis of his correction call.

Despite the correction forecast, Doctor Profit's longer-term bullish outlook remains intact. His spot holdings, accumulated around $60,000, remain open, and he has also identified a liquidity area near $62,000.

Bitcoin Demand Declines Despite ETF Inflows

Darkfost reported a steep drop in Bitcoin futures demand, with the metric falling from 164,000 BTC to just 3,000 BTC. Spot demand remained negative at -174,000 BTC, pushing total estimated demand down to -171,000 BTC on a 30-day cumulative basis. Read together, the figures underline that the latest leg up has unfolded against a shrinking demand base.

The deterioration in demand occurred even as Bitcoin climbed from $74,000 to $84,000 over a 15-day span.

Bitcoin ETFs Record $2.3 Billion in Accumulation

Against that backdrop, 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. Spot Bitcoin ETFs are widely followed as a measure of institutional participation because they allow traditional investors to gain exposure without directly holding the asset.

Darkfost identified this as the largest weekly ETF inflow since the April 2025 low. He also reported that ETF demand has continued without signs of slowing, prompting product providers to adjust their Bitcoin reserves. With ETF inflows running at one of the strongest weekly paces on record while exchange-based demand sits in negative territory, ETF flow figures Bitcoin's reaction around the $79,000 area stand out as the key data points to watch from here.