BTC fell 0.61% in 15 minutes: The net inflow to exchanges and outflow of ETF funds resonated, causing short-term selling pressure.

2026-03-29 22:00 to 22:15 (UTC), the BTC price fell 0.61% over 15 minutes; the range was 66230.0 to 66716.0 USDT, with a volatility of 0.73%. During this period, market volatility intensified, attention rose significantly, and fund flows moved in sync with the downward price action.

The main driver behind this anomaly is that on-chain large-capital net inflows to exchanges coincided with continuous net outflows of ETF funds. From 22:00 to 22:15, major trading platforms’ BTC/USDT pairs saw trading volume increase by about 30% compared with the prior 15 minutes. On-chain net inflows totaled 8,420 BTC, reaching a new 11-day high, indicating that large positions proactively shifted into the market. Combined with ETF cumulative outflows over five days of $124 million, institutional selling pressure is evident, creating near-term sell pressure. Meanwhile, in the futures market, open interest has continued to decline since March 26; on March 29 it fell to $18.2 billion. The Funding Rate turned negative, highlighting that long-side deleveraging is pronounced.

In addition, the number of large transfers from whale addresses surged within the anomaly window, further strengthening coordinated selling. At the same time, the Fear and Greed Index fell to 10/100, a 16-month low, leaving overall market sentiment extremely cautious. On the macro side, hawkish expectations from the Federal Reserve persist; the strengthening U.S. dollar continues to weigh on risk-asset valuations. With the upcoming March 31 FTX creditor distribution event, up to $2.2 billion in potential sell pressure is released, further prompting investors to passively cut positions. The convergence of the above factors drove this round of short-term downside.

Be alert to the risk of further short-term declines, and monitor the size of net on-chain inflows to exchanges and the ETF’s subsequent flows. As the FTX large distribution event approaches, if sell pressure continues to be released, it may push BTC to test the prior lows. If market sentiment shows signs of recovery, ETF fund flows return, or stablecoin “dry powder” is re-injected into major coins, there may be an opportunity for a rebound. It is recommended to continue monitoring on-chain large transfers, the futures open-interest structure, market sentiment, and the performance of key support levels to obtain more real-time anomaly information.