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CryptoMediumUpdated•Originally published 3 June 2026•Updated 4 June 2026•
2 min read

Bitcoin Tests Key Support After Record $1.44B ETF Outflows

Key Facts

1Bitcoin funds saw record outflows of $1.44 billion last week.
2$455 million in long positions were liquidated after Bitcoin dropped below $70,000.
3MicroStrategy sold $2.5 million worth of Bitcoin for the first time since 2022.

The digital asset market is facing intense selling pressure that has pushed Bitcoin to test critical support levels, its lowest since April. According to reports, Bitcoin ETFs saw record outflows totaling $1.44 billion last week, triggering $455 million in long liquidations after the price broke below the $70,000 threshold. The market also witnessed a notable shift in institutional behavior as MicroStrategy sold $2.5 million worth of Bitcoin, marking its first sale since 2022.

This decline coincides with growing uncertainty regarding U.S. monetary policy, as PCE Price Index data released on May 28, 2026, showed annual inflation holding at 3.8%, dampening hopes for imminent rate cuts. Compared to historical performance, the recent $3.8 billion exit from spot ETFs reflects a cooling of institutional risk appetite. Market experts noted that MicroStrategy's sales might be linked to tax optimization rather than a shift in long-term strategy, according to analyst commentary.

Traders are currently monitoring whether the price can hold above psychological support levels, with Bitcoin (0A7O.L) trading near $65,420 (June 3, 2026). Looking ahead, the market awaits upcoming U.S. employment data and scheduled speeches from Fed officials, such as Kashkari, for clues on liquidity trends that could dictate the short-term recovery path for cryptocurrencies.