CoinShares Confirms 52K BTC Q1 Selloff as Bitcoin Tests $66.9K Low

Bitcoin has fallen to two-month lows near $66,900 after sustained institutional selling and record ETF outflows. A 10-day $2.97B outflow streak turned 2026 flows negative, coinciding with MicroStrategy’s first sale of 32 BTC since 2022 and high-conviction holders offloading $2.4B in two days. CoinShares’ latest 13F data shows hedge funds and brokerages drove a 17% QoQ drop in institutional holdings to 261,000 BTC, while banks and advisors accumulated. K33 Research flags elevated volatility and downside risk through summer as capital rotates into AI stocks.