Bitcoin fell below $77,000 on Monday, continuing a four-day losing streak from a recent high of $82,000, as a wave of selling hit the crypto market. The total market capitalization shed more than $100 billion since last Friday, dropping to roughly $2.65 trillion, while liquidations surged to nearly $657 million in a single 24-hour window — 89% of which came from long positions.
ETF outflows hit a 2026 high
U.S. spot Bitcoin ETFs saw $648.6 million in net outflows on Monday alone, the largest single-day net negative since January 29. BlackRock’s IBIT led the exodus with $448.3 million leaving the fund, followed by Ark & 21Shares’ ARKB at $109.6 million and Fidelity’s FBTC at $63.4 million. Combined with last week’s total net outflows of $1 billion, cumulative outflows since May 16 now sit just under $1 billion — a sharp reversal from the inflow streak that had buoyed prices earlier in the spring.
Capital commitment remains weak
The Realised Cap 30-Day Net Position Change, a measure of capital flowing into Bitcoin, registered a positive $2.8 billion per month. That’s still far below historical benchmarks, suggesting investors aren’t committing fresh capital at the pace needed to sustain a rally. The metric’s weakness reinforces the impression that the current selloff isn’t just a blip but reflects a broader lack of conviction.
Macro tensions add pressure
On the geopolitical front, tensions between Iran and the United States remain elevated, with potential knock-on effects on global stability and shipping through the Strait of Hormuz. While crypto markets often trade on their own internal dynamics, a risk-off mood in broader markets can spill over, and right now traders have plenty to worry about.
What comes next? The market is watching to see whether ETF outflows slow later this week or if this turns into a sustained redemption cycle. With Bitcoin testing the mid-$76,000 zone — a level that’s acted as support in the past — the next 48 hours could determine whether this is a correction or the start of something deeper.
