$ETH Drops to 3-Month Low: $609M ETF Outflows + $1.65B Liquidated in One Day

Liquidations: $1.65B total. Longs took 86% of the damage. BTC longs alone: $693M. ETH: $473M. Combined two-day total is the sharpest selling wave since February 2026.

ETF outflows: $519.1M from BTC ETFs. $90.2M from ETH ETFs. $609.3M in a single session. Total BTC ETF net assets now at $85B.

The unexpected signal: Strategy sold BTC for the first time ever. $30M transferred to an exchange wallet. This is the company that built its entire brand around never selling. Institutional confidence shaken.

Whale positioning: The top trader on Hyperliquid (21 consecutive wins, $36M+ in profit) closed a $93.86M BTC short and opened a 3x short on 50,000 ETH. Current position: $92.68M against ETH.

Key levels:

ETH: $1,884 is the line. Below that, $1,800 test.

BTC: $65,000 is the floor. Below that, $60K zone.

The market is not just flushing leverage. Institutional signals are shifting.

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