BTC drops sharply in 15 minutes, down 0.53%: Strategy’s first-time token sale combined with ETF outflows triggers a sell-off in the short term

From 17:00 to 17:15 (UTC) on June 3, 2026, BTC plunged 0.53% in 15 minutes, with a price range of 65,700.6 - 66,121.4 USDT and a volatility of 0.64%. Earlier that day, Bitcoin had already broken below the $71,000 key support level; short-term market sentiment deteriorated rapidly, and volatility increased.

The main driver behind this move was Strategy (formerly MicroStrategy) disclosing on June 1 that it sold 32 BTC. This was the company’s first sale since December 2022. As the world’s largest corporate holder of BTC, Strategy is known for its long-standing “never sell” strategy. This sale shattered market expectations that it would only buy and never sell, carrying major signaling implications. The market began repricing the sell-option expectations of institutional holders, raising concerns that other corporate treasuries may follow suit.

Meanwhile, continued outflows from ETFs created direct sell pressure. Starting in late May 2026, Bitcoin ETFs recorded net outflows for six consecutive trading days totaling $1.26 billion, with cumulative outflows over the past two weeks exceeding $2.5 billion. In addition, IBIT, BlackRock’s ETF, saw its largest single-day outflow reach $448 million. Further, technical breakdowns intensified the selloff: after BTC fell below the $70,000 - $71,000 key support band, it triggered programmed selling and stop-loss orders. On-chain data shows that holders who bought 6-12 months ago chose to close positions after prices rebounded to the $80,000 area, adding to sell pressure. Internally, capital rotated: the stablecoin-led share rose to a local peak of 11.11%, while BTC.D has fallen 3% since mid-May, indicating funds rotated from Bitcoin into other crypto assets.

The market is currently at a critical juncture—watch whether the $70,000 support level turns into resistance, whether ETF cash flows stabilize, and what corporate BTC holders do next. Short-term volatility risk remains; it’s advisable to monitor on-chain fund flows and macro policy signals.