Bitcoin fell below $70K on the back of the sales, and a major Polymarket dispute is brewing over whether Strategy indeed sold in May or not.
Extended Outflows: Bitcoin ETFs logged 11 straight days of withdrawals, shedding $3.45 billion and continuing May's $2.43 billion monthly outflow trend. Macro Pressure: Rising inflation, higher Treasury yields, and geopolitical tensions pushed institutions to reduce exposure to Bitcoin ETFs and rotate into other assets.
Open interest has risen to 773,000 BTC, one of the highest readings on record, while funding rates remain elevated despite weak spot demand and growing market fear.
Bitmine Immersion Technologies chairman said minor sales from key holders and institutional outflows are typical market bottom behaviors rather than structural threats.
As Bitcoin (BTC) faces renewed bearish sentiment, dropping below the $70,000 mark, the Bitcoin Rainbow Chart suggests the asset remains significantly undervalued relative to its long-term growth trend.
Bitcoin has slipped below the crucial $70,000 level as bearish sentiment tightens its grip on the crypto market, with the price continuing to print lower highs and lower lows. The decline comes amid more than $3 billion in institutional outflows over the past 20 days.
From a 2011 peak near $1,900, gold spent years carving a deep base, retested resistance around $2,100 in 2020, consolidated again through 2022, then broke decisively higher to reach $3,300 by early 2025 and a record above $5,400 in January 2026.
Strategy sold 32 bitcoin that represent 0.004% of total holdings. The numer es tiny and the company isn't at risk, but it's signaling its commintment to its investors.
Bitcoin price has dropped below the $70,000 support level, sparking over $766 million in liquidations as Mt. Gox moves funds and MicroStrategy sells BTC.
Bitcoin is on the brink of a massive price crash
Mt Gox, the defunct crypto exchange that lost over 850,000 Bitcoin (BTC) to hackers, has moved more than $739 million to a new wallet.
Bitcoin price has fallen below $70,000 after deepening ETF outflows, Mt. Gox-linked wallet movements and renewed geopolitical stress pushed traders into a risk-off stance.