Analysis: Bitcoin plunges $5,000 in just a few days; three signals suggest selling pressure may intensify further.

CoinFeed reported on May 19th, citing CoinDesk, that Bitcoin fell from $82,000 to $76,800, a drop of approximately 6%, but market data suggests this decline may be an unusual correction. Three signals behind this drop indicate market concerns about further price drops. First, ETF outflows have accelerated: since May 7th, US spot Bitcoin ETFs have seen outflows exceeding $1.5 billion, with a single-day outflow of $648 million on Monday, a new high since January 29th. Second, aggressive selling has occurred in both the spot and futures markets: Glassnode data shows that the cumulative trading volume difference in the spot market fell from $16.9 million to negative $126.2 million, while the cumulative trading volume difference in perpetual contracts fell to negative $368.5 million, indicating that sellers are actively selling in both the spot and futures markets simultaneously.