BTC drops 0.75% in 15 minutes: whale selling pressure combined with long liquidation triggers short-term decline

2026-03-31 14:30 to 14:45 (UTC), the BTC spot price quickly dipped from 67,748.4 USDT to 67,092.0 USDT, with a return of -0.75% within 15 minutes and a range of 0.97%. The trading activity during this period increased: spot trading volume expanded by approximately 15% compared to the previous hour, and both market attention and volatility clearly intensified.

The main drivers behind this deviation were large holders (whales) temporarily concentrating the inflow of BTC to exchanges shortly before the US stock market opened. On-chain, the whale inflow ratio rose to a new high for October, increasing localized sell pressure. Combined with a surge in spot-side trading volume, stop-loss points for long positions were triggered in a concentrated manner. According to data from the same period, the amount liquidated from BTC long positions totaled as much as $68.33 million, and liquidation activity further accelerated the downward pace of the price.

In addition, ETF products saw localized outflows during this time window. Although the overall outflow trend narrowed compared with earlier periods, on March 31 there was still a certain amount of funds exiting major ETFs, reflecting that some institutions chose to adjust their exposure amid macro risk. The spot price did not rise in tandem with the US stock index at the open, indicating that the short-term correlation between BTC and US stocks weakened, which further cooled market sentiment. Multiple factors converged—on-chain fund flows, the structure of leveraged positions, and long/short liquidations—driving this round of sell-off.

Be alert to short-term liquidity risk and the overflow effect of liquidation triggers. If large funds continue to flow into exchanges or if spot trading volume further amplifies, price volatility may continue to increase. Please closely monitor key indicators such as whale fund flows, changes in liquidation data, ETF fund inflows and outflows, and the correlation with the US stock market, to obtain more real-time market updates in a timely manner and stay vigilant against the potential rise in short-term risk.