Bitcoin has dropped to $67,348, down 5.72% in 24 hours and down $13,000 over the past 19 days. Ethereum fell to $1,918, XRP slipped to $1.23. The total crypto market cap has declined 3.77% to $2.34 trillion.

The Primary Cause

The driving force behind the sell-off is not a hack, regulatory shock, or geopolitical event. It is sustained institutional selling through US spot Bitcoin ETFs.

Bitcoin ETFs recorded $483 million in net outflows on June 1, extending a streak that now runs to eleven consecutive days. Total outflows across that period have exceeded $3.45 billion. When regulated institutional funds sell consistently over nearly two weeks, bids thin out, prices drift lower, and leveraged positions begin to unwind in a…