Bitcoin is facing a challenging period with a persistent downtrend in the short term, despite maintaining an overall bullish outlook. This recent weakness comes as investor behavior adds to the uncertainty in the market, causing Bitcoin's demand to decline sharply.

The decrease in demand is evident in the contracting spot demand, leading to skepticism among investors and a reduction in buying interest. This trend indicates a potential increase in bearish pressure and a struggle for Bitcoin to maintain its current price levels without a recovery in demand.

Long-term holders have been accumulating Bitcoin, a sign of confidence in the future, but this accumulation may also lead to short-term price weakness before a significant recovery. The shift towards accumulation by long-term holders suggests potential short-term volatility and price corrections for Bitcoin.

Currently trading around $82,305, Bitcoin is within a broadening descending wedge pattern, which historically signals bullish tendencies in the long term but may indicate further downside in the short term. This could lead Bitcoin to test lower support levels, with a possibility of falling below $80,000 and testing levels around $76,741 and even $72,000 in the worst-case scenario.

Despite this, a change in investor sentiment and increased accumulation around the $80,000 mark could pave the way for Bitcoin to regain momentum and potentially surpass levels of $85,000 and eventually reach $87,041. Such a shift would override the bearish outlook, signaling a resurgence in market strength.