BTC sees a sharp drop of 0.86% in 15 minutes: ETF outflows continue and Strategy’s selloff trigger a leveraged liquidation resonance

During the UTC period from 16:15 to 16:30 on June 3, 2026, the BTC/USDT price plunged from 66,218.1 USDT to 65,550.0 USDT. In 15 minutes, the return was -0.86%, with a range of 1.01%. The market concentrated negative sentiment in the relatively illiquid midday trading session.

The main driver behind this move is continued institutional capital outflows. Data shows that US spot Bitcoin ETFs have posted net outflows for 10 consecutive days, totaling nearly $3 billion. Over the past three weeks, cumulative outflows have exceeded $4.21 billion, and assets under management have shrunk from $104 billion to $94 billion. Meanwhile, Strategy (formerly MicroStrategy) broke its core narrative of “never selling Bitcoin,” and for the first time sold BTC it held, directly rattling market confidence and triggering a chain reaction.

In addition, rotation of risk capital into the stock market provides a macro backdrop. In the same timeframe, the US stock market midday session logged historic gains. Bitcoin’s relative underperformance versus the Nasdaq 100 widened by 70 percentage points, the widest record since March 2019. The derivatives market amplified the selloff. In the past 24 hours, crypto exchanges recorded $594 million in long liquidations, and programmatic selling created a negative feedback loop. On the technical side, the $71,000 key support and the $70,466 short-term bottom have both been broken.

Volatility risk remains. Going forward, it’s important to focus on whether ETF inflows/outflows can stabilize, the US dollar index trend, and how price behaves around the $68,000 support area. Long-term holders are currently maintaining relatively high patience. The on-chain supply-side contraction trend has not yet reversed, but it will still take time for institutional confidence to recover.