Bitcoin is getting slammed from all sides — $3.4B ETF exodus, Mt. Gox selling, fading fast
Bitcoin is under pressure from every direction: investors pulled $3.4 billion from Bitcoin ETFs in the longest streak since launch, a major bankruptcy estate just moved $739 million worth of coins, and a well-known corporate holder disclosed selling Bitcoin for the first time.
Idea
Three red flags are stacking up for Bitcoin at the same time. First, $3.4 billion has been yanked from Bitcoin ETFs over 11 straight days — the worst streak ever — meaning big money is rotating out of crypto and into AI stocks. Second, the Mt. Gox bankruptcy estate just shuffled $739 million of Bitcoin, which usually means they're about to sell it and distribute cash to creditors, adding more selling pressure. Third, Strategy (formerly MicroStrategy), one of the biggest corporate Bitcoin holders, just disclosed its first-ever Bitcoin sale. When institutional selling, creditor distributions, and corporate selling all hit together, the downtrend tends to continue.