Bitcoin tumbles to $66,700 as long positions are wiped out and spot ETFs extend outflow streak

Bitcoin fell about 6.75% to roughly $66,700, setting off a broad leverage shakeout. Data from @coinglass_com shows $1.48 billion in liquidations across 221,187 traders over the past 24 hours, with long positions making up $1.35 billion. The largest single liquidation was a $27.5 million BTC position on Hyperliquid. The move reflects a cluster of pressures rather than a single catalyst. US spot Bitcoin ETFs have posted net outflows for 11 consecutive sessions, totaling about $3.45 billion—the longest streak since their launch—led by BlackRock's IBIT. Strategy's first Bitcoin sale in four years also challenged the "never sell" narrative. At the same time, flows have rotated toward US equities, with the S&P 500 at a record high. bitcoin:native is now about 45% below its October peak near $126,000.