Bitcoin slides 14% in a week as ETF outflows and oil prices…

Bitcoin shed 14% over the past week in what's shaping up as one of the sharper short-term reversals of the year, with three converging headwinds doing the damage: net outflows from spot BTC ETFs, a reported share sale by Strategy (formerly MicroStrategy), and a deteriorating macro backdrop driven by falling oil prices weighing on risk appetite globally.

Why it matters

The confluence is the story. ETF outflows signal that institutional buyers who drove the earlier rally are now trimming, not adding — the structural bid that underpinned the move higher is temporarily absent. Strategy's share sale, if confirmed, removes one of the most visible and vocal BTC accumulators from the buy side at exactly the wrong moment for sentiment. Meanwhile, oil's slide is feeding a broader risk-off tone in macro markets, and Bitcoin has not decoupled from that dynamic despite the ETF-era narrative that institutional ownership would dampen correlation to equities and commodities.

Market impact

A 14% weekly drawdown puts BTC back in territory where leveraged long positions face liquidation pressure, and any further ETF outflow data over the coming days will be closely watched as a leading indicator of whether institutional conviction is genuinely fading or this is a short-term rebalancing. The oil-macro link is the wildcard: if energy prices stabilise, one of the three headwinds lifts automatically.