U.S. spot Bitcoin ETFs recorded net outflows for a tenth consecutive trading session on Tuesday, their longest unbroken losing streak since launch, as BTC fell below the $70,000 psychological support level for the first time since April amid a confluence of supply-side catalysts.
The 10-day outflow run has now pulled more than $3 billion out of the fund complex, per SoSoValue data. Total assets under management across all U.S. spot BTC ETFs have dropped to approximately $94 billion, down from a peak of $107.75 billion in mid-May. BlackRock’s IBIT has borne the largest share of redemptions, with the fund alone recording roughly $2.4 billion in cumulative net outflows since May 18, according to data cited by multiple market trackers.
Tuesday’s slide below $70,000 was amplified by two specific catalysts arriving in the same session. Mt. Gox’s rehabilitation estate moved 10,422 BTC worth approximately $739 million from cold storage to previously unseen wallet addresses at 04:47 UTC, per Arkham Intelligence — the estate’s largest single transfer in months ahead of its October 31, 2026 creditor repayment deadline. Within an hour, BTC had dropped from $71,000 to an intraday low near $69,371, triggering more than $766 million in liquidations across the broader market, predominantly from overleveraged long positions. Separately, an SEC 8-K filing revealed that Strategy sold 32 BTC between May 26 and May 31 to fund preferred stock distributions — a negligible $2.5 million divestment against a 843,738 BTC holding, but the first publicly confirmed sale by the firm, which rattled sentiment.
Bitcoin is now trading approximately 44% below its all-time high of roughly $126,000 set in October 2025. The Crypto Fear & Greed Index fell to 23, deep in extreme fear territory. Analysts note that Mt. Gox creditor history suggests most recipients hold rather than sell immediately — prior distribution rounds produced less market impact than feared — but the headline transfers reliably trigger short-term selling in thin liquidity conditions.
The forward calendar adds further uncertainty. Mt. Gox still holds approximately 34,504 BTC valued at $2.43 billion with the repayment deadline running to October 31, 2026, meaning periodic wallet movements are likely to recur. For ETF flows, a reversal of the current streak will probably require a stabilization of BTC price and a clean macro session — neither of which materialized on Tuesday.
