Over $1.4 billion in crypto longs liquidated as Bitcoin ETF outflows surpass $3 billion in a 10-day streak.
Bitcoin fell below $67,000 on Tuesday, dragging Ether under $1,900 and Solana below $74, as $1.4 billion in long positions were liquidated. The decline follows a 10-day streak of Bitcoin ETF outflows exceeding $3 billion, compounded by MicroStrategy’s first Bitcoin sale in four years, undermining market confidence.
MicroStrategy shares plunged more than 9% to $136.08, extending losses to 70% below their 52-week high of $457.22. The stock has dropped nearly 15% in five days and over 23% this month. Bitcoin itself is down 46% from its all-time high of $126,080. Meanwhile, MicroStrategy’s STRC token fell to $96.90, failing to hold its $100 par value.
The sell-off reflects broader weakness in crypto assets, with major tokens down 3-5% amid shifting sentiment. Market participants cite the ETF outflows and MicroStrategy’s moves as key drivers of the downturn.