Bitcoin Slides to Two-Month Low as 2026 Spot ETF Flows Flip Negative

Bitcoin extended its pullback Monday, briefly sliding to about $71,479—its weakest level since early April. BTC is down nearly 3% over the past 24 hours and more than 7% over the last week, pressured by persistent ETF redemptions, institutional selling and a pickup in long-position liquidations. Spot Bitcoin ETFs have now posted net outflows for 10 straight trading sessions, with cumulative withdrawals nearing $3 billion. With redemptions still building, year-to-date flows for related exchange-traded products have turned negative, indicating investors have allocated less to Bitcoin via ETFs this year than at year-end. The move also suggests some holders are taking profits or rotating into other assets. Corporate selling has added to the focus. Strategy—one of the largest corporate Bitcoin holders with more than $60 billion in BTC—sold 32 bitcoins last week, raising roughly $2.5 million at an average price of about $77,135. The sale followed comments from chairman and founder Michael Saylor that he "might sell some Bitcoin." U.S. Securities and Exchange Commission filings said the proceeds were intended to fund dividends on the company's preferred shares. Derivatives markets have compounded the downside. CoinGlass data show roughly $155 million in Bitcoin-linked positions were liquidated over the past day, with about 94% tied to long bets. After successive declines, Bitcoin is down close to 8% over the past month and about 43% below its all-time high of $126,080. Continued capital outflows, corporate sales and the unwinding of leveraged positions are weighing on near-term sentiment.