- Bitcoin dropped to about $76K as $1.3B ETF outflows and institutional selling hit the market.
- Liquidations and global tensions added pressure, keeping BTC under bearish conditions.
Bitcoin continued to struggle this week after falling below key support levels, with institutional investors appearing to reduce their exposure amid rising market uncertainty. The latest decline comes as Bitcoin exchange-traded funds (ETFs) recorded major outflows and geopolitical tensions added pressure across financial markets.
Bitcoin Slides Toward Monthly Low
Bitcoin (BTC) dropped from above $80,000 to a monthly low of $76,020 before recovering slightly to trade near $77,600. The decline represents roughly a 4.5% loss over the past seven days.
The pullback triggered heavy liquidations across crypto markets. Data from CoinGlass showed that more than 104,000 positions were liquidated within 24 hours, resulting in losses totaling approximately $257.67 million.
The largest single Bitcoin liquidation reached $3.04 million on Binance. The wider cryptocurrency market also moved lower during the correction. Ethereum fell below the $2,300 mark, while XRP slipped under $1.40 as selling pressure spread across major digital assets.
Institutional Investors Increase Selling Activity
A key indicator pointing to institutional behavior showed weakening demand from large investors. The Coinbase Premium Indicator, which compares Bitcoin pricing between Coinbase and Binance, dropped to -0.0983%, its weakest reading this month.
The metric often helps track institutional participation because Coinbase attracts more US-based professional investors, while Binance sees stronger retail activity.
According to CryptoQuant analyst Darkfost, institutional investors have recently accelerated selling activity. Large investors appear to be taking defensive positions while waiting for clearer macroeconomic conditions.
🔴 Institutional selling pressure has intensified recently.
The Coinbase Premium Index continues to sink deeper into negative territory.
[💡 This is an adapted version designed for very short term analysis using an hourly timeframe. It is also a volume weighted version, helping… pic.twitter.com/DXQ0MLpxGN
— Darkfost (@Darkfost_Coc) May 21, 2026
Research director Nick Ruck from LVRG also suggested larger holders may be securing profits or adjusting portfolios during market uncertainty. Another market analyst, Axel Adler, described current market conditions as showing limited confirmation of stronger US spot demand.
Bitcoin ETFs See $1.3 Billion Exit
Spot Bitcoin ETFs have experienced four straight trading sessions of outflows beginning May 14.
Combined withdrawals reached approximately $1.3 billion, highlighting reduced institutional appetite during recent market weakness.
Ethereum spot ETFs also faced pressure, recording eight consecutive sessions of negative flows. On May 20 alone, Ethereum ETF products saw roughly $28.14 million leave the market.
ETF outflows often signal cautious investor sentiment, particularly during periods of broader economic uncertainty.
Global Tensions Add Pressure to Risk Assets
Beyond crypto-specific factors, geopolitical concerns added another layer of pressure. Rising tensions between Iran and the United States contributed to volatility across global financial markets. Oil prices climbed more than 4% following reports surrounding disagreements over uranium transfer discussions.
Periods of geopolitical uncertainty can lead investors to move capital away from risk assets, including cryptocurrencies. Blockchain analytics also revealed increased Bitcoin movement toward exchanges. Analyst Ali Charts reported that 9,664 BTC valued at over $744 million moved to exchanges over five days.
Market participants often view exchange inflows as a potential sign that investors may be preparing to sell holdings.
Key Bitcoin Price Levels to Watch
Bitcoin currently remains above the important $77,200 level. Immediate resistance stands near $78,000. If buyers regain strength, Bitcoin could attempt another move toward the $79,500 to $80,000 range. On the downside, support remains near $76,200. A breakdown below that area could increase attention toward the next support zone around $74,200.
For now, investors remain focused on institutional flows, ETF demand, and broader macroeconomic developments that continue shaping Bitcoin price action.
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