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We know who is doing the massive selling of Bitcoin in the US.
Bitcoin ETFs have sold an additional $1.3 billion $BTC so far this week.
This is likely to be the third largest week in their history of outflows.
The other three largest weeks are:
- March 2, 2025 @ $79k
- June 6, 2026 @ $60k
- February 6, 2026 @ $60k
So far this year, Bitcoin ETFs have sold $12.5 billion, with $8.5 billion of that between $60k February and today.
They have bought $6.7 billion this year, resulting in a net outflow of $5.7 billion for 2026.
Bitcoin has absorbed $8.5 billion in selling pressure from ETFs while staying above $60k.
What we are seeing here, in my opinion, is ETF capitulation.