BTC plunges 0.61% in 15 minutes: ETF sees net outflows for 12 straight days, synchronizing with long-term holders selling off

Between 10:00 and 10:15 UTC on June 4, 2026, the BTC/USDT trading pair recorded a return rate of -0.61%. The price fell from 63,271.7 USDT to 62,825.1 USDT, with a swing of 0.71%. Bitcoin saw a clear move within 15 minutes, continuing the recent sustained downtrend.

The main driver of this move is a resonance between ongoing withdrawals of institutional funds and concentrated selling by long-term holders. Bitcoin spot ETFs have recorded net outflows for 12 consecutive days, setting a record for the longest continuous outflow history. In May alone, net outflows reached $2.3 billion. ETF net assets fell sharply from $107.8 billion on May 14 to $85 billion, a drop of about $22.8 billion. Analysts at Citibank noted that ETF flows are the primary driver of BTC price increases, explaining about 45% of the change in weekly returns.

At the same time, on-chain data shows that whales and long-term holders have begun to “capitulate.” The number of whales holding more than 1,000 BTC decreased from a peak of 1,285 to 1,279 within a week, and at least 6,000 BTC were sold in a concentrated manner. Long-term holders (holding for more than 155 days) saw net positions fall by 7.69% within two days, with a selling size of about $2.4 billion. Of that, 26% came from “catch-up” funds that bought at prices higher than $90,000. The technical picture further amplified the downside: Bitcoin broke below the key support of $71,000 and lost the 20-period and 50-period exponential moving averages, triggering automated sell orders. The single-day liquidation amount exceeded $1.63 billion that day; long positions were liquidated for more than $1.38 billion, forming a negative feedback loop.

Current market sentiment is in extreme fear, with the Fear & Greed Index at 11. In the short term, attention should be on support from the channel trendline below $70,342; if it fails, price could test $68,348. In more extreme scenarios, it may also test the $63,886–$59,424 range. Investors should remain alert to the ongoing risk of liquidity tightening and the persistence of liquidation-driven negative feedback loops, and closely monitor changes in ETF fund flows and long-term holder behavior.