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#BitcoinETFSees7272BTCOutflow
Bitcoin Temporarily Dropped to the $59,000 Area, Dragged Down by Global Macro Sentiment and Altcoin Liquidation Storm
The crypto market has experienced another major shock after Bitcoin officially fell, reaching the $59,000 area for the first time since October 2024. This sharp decline occurred amid a mass sell-off that wiped out stock exchanges and global commodities, triggering the disappearance of market capitalization and gold valuations worth trillions of dollars. The drop in BTC price, which fell as much as 27% over the past 20 days, was further exacerbated by heavy outflows from Spot Bitcoin ETFs, indicating institutional investors are rushing to adopt defensive measures amid uncertain monetary policies and global geopolitical situations. With this fall, Bitcoin’s position is now recorded at a 53% loss from its all-time high (ATH) that once hovered around $126,000.
Panic within the crypto industry itself has been intensified by emotional reactions to shocking internal industry news. Instead of the usual routine accumulation, reports emerged of a sell-off of 32 BTC owned by Strategy (MSTR). Although the amount is relatively small for such a corporation, market participants responded aggressively, triggering a wave of panic selling due to fears that this signals an early shift in corporate portfolio strategies, especially as their average cost is significantly above the current market price.
The bearish condition in the crypto asset sector is also worsened by very serious bad news from the Altcoin sector, where the privacy coin project Zcash (ZEC) was reported to have a critical bug in its system. This vulnerability allows unauthorized parties to mint unlimited amounts of new ZEC coins, but the exact number of tokens illegally minted remains unknown. Rumors of hidden inflation exploits on the ZEC network immediately damaged remaining market confidence, sparking mass panic among retail investors, and creating a domino effect that dragged the entire altcoin ecosystem down to new lows for 2026.