📉 Bitcoin prices plummeted to the $67,000 range, down 13% over the week, ETF fund outflows, and market panic

Bitcoin price fell below $68,000 on Tuesday, hitting the lowest level since early April, influenced by multiple factors. Some of these include Strategy's first Bitcoin sale in three and a half years, record ETF fund outflows, and new on-chain activity from the long-dormant Mt. Gox estate.
Some believe that the catalyst for market turbulence is the disclosure Strategy submitted to the SEC on Monday. The company sold 32 Bitcoins between May 26 and May 31, at an average price of $77,135 per Bitcoin, totaling approximately $2.5 million in revenue.
This sale was intended to fund the allocation of STRC, which is Strategy's perpetual preferred stock with an annual dividend rate of 11.5%.
Looking at these numbers alone, they are not large — 32 BTC accounts for only 0.004% of Strategy's total holdings of 843,706 Bitcoins, which were purchased at an average price of $75,699. But the symbolic significance is substantial.
This is the first time the company has reported a net reduction in Bitcoin holdings through an independent SEC filing, prompting a strong market reaction: on Monday, MSTR stock dropped 5.85%, and by Tuesday morning, it had fallen about 6%.
Strategy's sale was not an isolated event. U.S. spot Bitcoin ETFs experienced 11 consecutive trading days of approximately $3.45 billion in fund outflows before the end of May — the largest monthly ETF outflow since 2026. Single-day redemptions reached as high as $484 million.
Bloomberg Intelligence analyst Eric Balchunas opposed this panic, stating that compared to normal ETF liquidity patterns, a $3 billion outflow on a $100 billion asset base is "completely meaningless."
He pointed out that since the launch of spot Bitcoin ETFs, the net inflow has still approached $57 billion, down from a high of $63 billion — an unusually resilient figure for such volatile assets. Even as Bitcoin prices decline, ETF share counts continue to grow, which Balchunas sees as a sign of ongoing adoption rather than investor flight.