Bitcoin fell to $76,500 on Monday, erasing most of its May gains as escalating US-Iran tensions triggered a risk-off sentiment across crypto markets. Short-term holders-those who have held BTC for less than 155 days-sold over 10,000 Bitcoin worth roughly $770 million at a loss, according to CryptoQuant. The selling occurred near $76,900, about 2% below the average purchase price of $78,440, signaling forced liquidation and capitulation among recent buyers.

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This pattern mirrors a similar event in November 2025 that preceded a 15% crash. Glassnode data shows more than 7.8 million BTC are now held at a loss, creating a supply overhang that must be absorbed before any sustained recovery. US spot Bitcoin ETFs also saw $648.6 million in net outflows Monday-the largest since January-while global crypto funds posted $981.5 million in withdrawals last week.

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Analysts warn that a break below $76,000 support could trigger a decline to $65,000-$70,000. CryptoQuant's HODL Waves indicator suggests a bottom between $65,900 and $70,500 if current weakness persists. Technical analyst Michael van de Poppe noted that failing to hold $74,500-$76,000 could lead to a test below $65,000.

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Disclaimer: This article is for informational purposes only and does not constitute investment advice.