Bitcoin is heading for its worst week since February, down 13%, as ETF outflows hit a record 13-day streak and focus turns to Monday’s Strategy disclosure for signs of stabilisation.

Summary:

• Bitcoin is down 13% this week, its worst performance since February
• Spot bitcoin ETFs recorded a 13th consecutive day of net outflows, the longest streak on record, with total assets falling to $82.8bn from $107.8bn on May 14
• The initial trigger was Strategy’s bombshell disclosure that it sold 32 BTC for approximately $2.5 million, its first sale since 2022, to cover preferred stock dividend obligations
• The sale prompted $594 million in long liquidations across crypto exchanges within a 24-hour window
• Analysts note bitcoin is failing to act as a digital…