BTC drops sharply within 15 minutes by 1.20%: short-term selling triggered by 13 straight days of net outflows from ETFs combined with tightened macro liquidity

Between 12:00 and 12:15 (UTC) on June 8, 2026, BTC saw a sharp drop of 1.20% in 15 minutes, falling from 63,654.6 USDT to 62,708.6 USDT, with a range of 1.49%. This volatility occurred against the backdrop of 13 consecutive days of net outflows from Bitcoin ETFs and a continued deterioration in market sentiment, with short-term sell pressure clearly intensifying.

The main driver behind this move is the continued capital outflow from spot Bitcoin ETFs. Data shows that as of June 3, Bitcoin ETFs have recorded 13 straight days of net outflows, totaling $4.33 billion in withdrawn funds— the longest net outflow streak since ETFs were launched in 2024. Of that, the outflow on June 3 alone was $397 million, the third-largest single-day outflow in history. The institutional investors’ holdings share fell from 24.7% to 20.8%, while holdings decreased from 313,000 BTC to 261,000 BTC, a decline of 17%. CoinShares analysts said that short-term leverage strategies are being closed out, and supply is being reallocated from momentum players to long-term holders.

Meanwhile, macro liquidity tightening driven by the Fed’s “Wash shock” further amplified selling pressure. In January 2026, new Fed chair Wash advocated aggressive quantitative tightening, and the 10-year Treasury yield broke above the 4.5% key level. As the risk-free return rises, the opportunity cost of holding BTC increases. In addition, BTC’s price is in a long-term downtrend channel: both the 50-day and 200-day moving averages have already been lost, leaving technical support levels facing tests. Programmatic trading triggers automatic selling near key levels, creating a “resonance” effect. While miners’ profit margins under pressure are not the main cause of near-term volatility, passive selling also adds to market supply.

At present, volatility risk is significant. If the ETF fund outflow trend continues, BTC could further test the value base range of $52,000–$58,000. Investors should watch the $58,000 key support level, ETF fund flows, and Fed policy developments, and remain alert to cascading risks stemming from liquidity tightening.