Institutions continue to dump Bitcoin. Credit: CCN.
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Key Takeaways
Institutions are selling Bitcoin aggressively near $70,000 amid outflows and weakening sentiment.
A February flash crash below $65,000 triggered over $2 billion in long liquidations.
Macro pressure, ETF outflows, and sovereign selling continue to weigh on BTC price.
Bitcoin is hovering around the $70,000 mark in late March 2026, but the mood has shifted.
Market watchers are increasingly asking whether large players are quietly heading for the exits.
A viral X post from analyst Ted Pillows added fuel to that narrative, pointing to on-chain signals that suggest growing institutional selling pressure.
With Bitcoin struggling to hold key levels, recent data suggests coordinated selling by large holders.
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Bitcoin’s recent performance has been underwhelming.
Since the sharp downturn triggered by the October black swan event, the asset is now on the verge of printing six consecutive red monthly candles.
The weakness comes despite occasional rallies that briefly raised hopes of a recovery.
Concerns around institutional selling gained traction on Mar. 30, when Ted Pillows highlighted a persistently negative Coinbase premium alongside futures price action.
That metric often signals stronger selling pressure on U.S. spot exchanges — typically associated with institutional activity.
Institutions continue to dump Bitcoin. Credit: Coinbase.
The data points to a consistent pattern: rallies are met with selling, suggesting whales, hedge funds, and possibly even sovereign entities are using strength to offload positions.
Bitcoin briefly reclaimed levels above $74,000 earlier in the week but failed to sustain momentum, slipping back below $70,000 by the weekend.
The Coinbase premium remains deeply negative, with readings dropping as low as -0.09%.
That reflects continued outflows from platforms favored by institutional traders and reinforces the view that selling pressure is concentrated on the spot side.
While showing modest intraday gains, the asset continues to face consistent selling pressure, particularly during U.S. trading hours.
Earlier in the day, BTC briefly dropped below $65,000, losing roughly $1,700 within minutes before rebounding above $67,000.
The sharp move liquidated over $140 million in long positions.
Within the next hour, a reversal wiped out another $100 million in short positions, highlighting just how volatile the market remains.
What’s Holding Bitcoin Back?
Bitcoin’s price action in early 2026 has been a far cry from the euphoria of late 2025, when the asset briefly topped $126,000.
After a sharp correction, BTC has struggled to regain its footing, repeatedly testing support near $ 70,000 before slipping lower.
Several forces are weighing on the price.
Macroeconomic pressure remains a major factor.
Expectations for aggressive Federal Reserve rate cuts have faded, while rising oil prices and persistent inflation concerns have pushed investors toward traditional safe-haven assets like gold.
Bitcoin’s correlation with risk assets, particularly tech stocks, has also dragged on sentiment during broader market pullbacks.
On-chain data suggests supply-side pressure is just as important.
Long-term holders and whales have been taking profits, especially during brief rallies toward $74,000 earlier in March.
At the same time, short-term holders — those holding BTC for less than 155 days — have been realizing losses, adding to selling pressure.
ETF flows, once a strong source of demand, have also weakened.
While spot Bitcoin ETFs absorbed significant inflows in previous months, recent periods have seen net outflows, removing a key support layer for price.
Regulatory uncertainty and geopolitical risks, including tariff tensions, have further dampened confidence in Bitcoin’s “digital gold” narrative.
Taken together, institutional distribution, leveraged liquidations, and macro headwinds are creating a difficult environment for Bitcoin in the short term.
That said, similar phases of stress have historically preceded accumulation cycles. Whether this is simply a reset — or a deeper shift in sentiment — remains to be seen.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
