Bitcoin slides to two-month low as Strategy sells BTC, ETFs shed billions
In brief
- Bitcoin fell to $71,479, a two-month low, amid ETF outflows and Strategy's BTC sale
- Strategy sold 32 Bitcoin for ~$2.5M to fund dividends from its $60B+ BTC holdings
- Bitcoin ETFs shed nearly $3B in outflows over 10 days, now negative year-to-date
- $155M in Bitcoin liquidations occurred in 24 hours, 94% on long positions
- Bitcoin down 43% from its $126,080 all-time high
ETF Exodus Weighs on Price
Nearly $3 billion in outflows have stacked up over a 10-day streak, marking a sharp reversal in investor appetite. Bitcoin ETFs have now flipped negative year-to-date, with assets under management falling in 2026 as investors seek to recoup cash or rotate into other positions.
The selling pressure has compounded broader market weakness. Bitcoin is down around 8% in the last month of trading and sits 43% off its all-time high of $126,080. In the last 24 hours alone, approximately $155 million worth of liquidations have stacked up against Bitcoin positions, with about 94% of those on long positions—bets that the price would rise.
Strategy's First Sale Since 2022
Strategy, the Bitcoin behemoth that holds more than $60 billion worth of BTC, made its first sale since 2022 last week. The firm sold 32 Bitcoin for around $2.5 million at an average price of $77,135, according to an SEC filing. The proceeds were earmarked to fund dividend payments for its preferred stock.
The announcement came less than a month after chairman and founder Michael Saylor said the firm would "probably sell some Bitcoin" to manage capital needs. Shares in Strategy (MSTR) shed more than 6% since the opening bell following the sale disclosure.
What's Ahead
The sale underscores the tension between long-term conviction and near-term capital management. Even a modest reduction in holdings from a major player can ripple through market perception. Bitcoin's current weakness reflects both technical selling pressure and the broader risk-off sentiment that's characterized crypto markets in recent weeks.
