Bitcoin held steady around $76,000 despite $1.26 billion in net selling over two weeks, absorbing sell pressure that would have triggered a significant correction two years ago. Sellers were identified by CryptoQuant as predominantly whales and long-term holders, with a major portion coming from BlackRock’s iShares Bitcoin Trust (IBIT) via a dark-pool transaction of $1.26 billion. US spot Bitcoin ETFs recorded net outflows for 9 to 12 consecutive trading days in late May. This pressure was offset by corporate treasury buying from companies like MicroStrategy, as well as OTC desk transactions and sporadic ETF inflows that prevented these large orders from hitting exchange order books.
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