Bitcoin Falls to 2-Month Low After Strategy Sells BTC, ETFs Flip Negative for the Year
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The price of Bitcoin dipped to a nearly two-month low on Monday, dipping to a recent price of $71,479 amid growing ETF outflows and a sale from leading treasury firm Strategy.
Key facts
Strategy, the Bitcoin behemoth that holds more $60 billion worth of BTC, sold 32 Bitcoin for around $2.5 million at an average price of $77,135
BTC is now down around 8% in the last month of trading and is 43% off its all-time high of $126,080
Around $155 million worth of liquidations have stacked up against Bitcoin positions in the last 24 hours, according to data from CoinGlass —about 94% of which were liquidations on long positions
The weekly slide has been catalyzed by massive ETF outflows, nearly $3 billion in total over its current 10-day outflow streak
Summary
Bitcoin has fallen to a mark it hasn't seen since early April, recently trading around $71,614. The top crypto has fallen more than 2.5% in the last 24 hours amid continued ETF outflows, which have now flipped negative for the year. Plus, Bitcoin's leading treasury firm Strategy flipped the script, dumping $2.5 million in BTC last week. The top crypto asset is down 2.8% in the last 24 hours and has now fallen more than 7% in the last week of trading, bringing it to a level not seen since the first week of April, according to data from CoinGecko.