BTC dropped sharply by 0.59% in 15 minutes: institutional capital outflow and leveraged liquidation resonance triggered short-term selling pressure.

June 24, 2026, 17:30 to 17:45 (UTC), BTC dropped sharply by 0.59% within 15 minutes, with the price falling from 59,753.4 USDT to 59,296.7 USDT, a range of 0.77%. This period was part of a significant intraday fluctuation, with BTC falling from an opening price of $64,012 to $62,729, a 24-hour decline of 1.92%. The overall market was in risk-off mode, with volatility notably increasing.

The main driver of this unusual movement was sustained institutional capital outflows. Spot Bitcoin ETFs have seen net outflows for the sixth consecutive week, totaling $5.94 billion. On June 22 alone, daily net outflows reached $68.3 million, with institutional selling pressure directly transmitting to spot market prices, forming the core downward momentum.

Additionally, large-scale liquidations of leveraged traders exacerbated short-term volatility. The total liquidation amount across the entire market within 24 hours reached $706 million, of which 84% (approximately $593 million) came from long positions. BTC-specific liquidations amounted to $48.6 million. The cascading liquidation of longs triggered programmatic selling, forming a negative feedback loop of "decline-liquidation-further decline." At the macro level, the US Dollar Index climbed to 101.15, a one-year high. The Nasdaq fell 2.2% on the same day, with tech stock sell-offs spilling over into the crypto market, putting overall risk assets under pressure. Technically, BTC has fallen back near the 200-week moving average ($62,457). If this key support level is lost, it could trigger larger-scale selling. The Fear and Greed Index has fallen to 24, indicating extreme fear.

Market volatility risks remain. Close attention should be paid to the support level of $62,457, changes in ETF fund flows, and the trend of the US Dollar Index. If the key support breaks, it may open up room for further downside. Users are advised to carefully assess leverage risks.