BTC drops 1.18% in 15 minutes: ETF continues net outflows combined with Strategy's coin selling impacting confidence

On July 8, 2026, from 08:15 to 08:30 (UTC), BTC plummeted 1.18% within 15 minutes, dropping from $62,851.0 to $62,080.3, with a volatility of 1.23%. This sharp decline occurred as Bitcoin approached a critical technical support level, amid persistent weak market buying interest and increased volatility.

The main driver behind this movement is the continued net outflow from spot Bitcoin ETFs. In June 2026, ETF net outflows reached approximately $4.06 billion, marking the worst month on record, surpassing the $3.56 billion outflow in February 2025. Large-scale institutional withdrawals severely weakened the spot market’s absorption capacity, forcing ETF issuers to sell BTC in the spot market to meet redemption pressures, creating a negative feedback loop.

Meanwhile, Strategy broke the "Never sell your Bitcoin" stance on July 6, announcing a sale of $216 million worth of BTC, the largest sell-off in six years, directly shaking market confidence. Large whale addresses have reduced holdings by nearly 25,000 BTC over the past week, reflecting cautious sentiment among major investors regarding the short-term outlook. Additionally, a strengthening dollar index, combined with the Federal Reserve maintaining high interest rates, suppresses risk assets. The Iran-U.S. conflict further elevates inflation expectations, amplifying systemic pressure and volatility.

In the short term, attention should be paid to the $60,000 psychological level and the key support at $58,000. Losing these levels could lead to a decline toward the $50,000 zone. Market sentiment remains extremely weak; miners are approaching shutdown levels, but oversold conditions have not triggered a meaningful rebound. It is advisable to monitor ETF capital flows and macro policy developments, while remaining alert to leverage liquidation risks.