Bitcoin Drops Below $68K as $1 Billion in Positions Liquidated

While Bitcoin investors' hopes for a near-term rebound are fading, the leading $BTC has deepened the market's negative sentiment with a drop of more than 5% over the last 24 hours, sliding to $67,312. Weekly losses now exceed 12%, and price has dipped below the $68,000 level for the first time since April. $BTC currently trades roughly 46% below its all-time high of $126,080.

One source of selling pressure: Strategy, the company known for treating its balance sheet like a Bitcoin vault, sold 32 $BTC last week—worth about $2.5 million. It marks their first BTC sale since 2022, though against their roughly $57 billion in Bitcoin holdings, the amount is what crypto natives would politely call a rounding error.

US spot Bitcoin ETFs aren't helping sentiment. The funds have posted net outflows for 11 consecutive trading days, shedding more than $3.4 billion in that stretch. Net fund flow into US spot Bitcoin ETFs has now turned negative year-to-date—meaning money leaving the ETFs in 2026 has already exceeded what came in. Even the institutional crowd is heading for the exits.

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Futures traders who bet on a bounce got wrecked. According to CoinGlass data, roughly $600 million in Bitcoin long positions were liquidated over the last 24 hours. Across the broader crypto market, $1.24 billion in positions were wiped out, with $1.12 billion coming from longs and about $124.85 million from shorts. The long side, predictably, took the brunt.

A graph showing the drop in $BTC price.

*This is not investment advice.