- Bitcoin (BTC) has dropped to around $73K amid ETF outflows and global tensions.
- Over $2B in ETF outflows and $900M in withdrawals add to the selling pressure.
- Important support is at $72,650 with RSI close to oversold levels at 34.82.
Bitcoin fell below the $73,000 level as a combination of national upside, heavy ETF redemptions, and strong corporate pressure weighed on the market.
At the time of writing, Bitcoin was trading around $73,235, having briefly touched an intraday low of $72,604 from a high of $74,490.
The decline extends a multi-week decline that has already wiped out more than 8% in the past 14 days and nearly 33% over the past year.
Geopolitical turmoil and pressured withdrawals are contributing to the decline
The biggest part of the decline came after the US military attacked Iran, which sent global markets into a frenzy.
Crypto assets have been hit hard due to their high exposure.
During the selloff, 900 million dollars in crypto assets were removed, according to market data recorded at the time.
The stock settled in a long-term position, which forced additional sales in an already weak portfolio.
This pushed Bitcoin below $73,000 and it rose slightly before settling down during the day.
The move also coincided with an increase in the economy’s exposure to traditional risk factors, with Bitcoin’s correlation to the Nasdaq Composite also reported at 0.96, one of the highest levels seen in recent months.
A Bitcoin ETF maximizes the return on investment
Along with macro-driven volatility, institutional movement adds constant pressure to Bitcoin’s price.
Spot Bitcoin exchange recorded eight consecutive days of net outflows, marking one of the longest streaks since its inception.
On May 27 alone, ETF outflows reached nearly $733 million, contributing to the largest outflow of more than $2 billion since mid-May.
These redemptions reflect steady selling pressure from institutional investors, reducing exposure to the recent downturn.
The main point of stress on the session was related to the report of $1.3 billion ETF institutions related to block sales, involving approximately 29.2 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), executed at a price of approximately $43.16 per share.
These transactions are said to have been arranged through private equity markets before appearing in the existing markets.
Following the execution, Bitcoin fell by around 1.4% to 1.5% within minutes, indicating that liquidity was thin enough for large orders to affect short-term prices.
This added to the existing ETF-driven sales already in the market.
The price of bitcoin
Over the past month, Bitcoin has fallen by around 4.7%, while the 14-day low of 8.4% shows a significant decline that has gradually increased in recent weeks.
The stock remains very low, trading about 42% below the $126,080 it listed in October 2025.
Despite the difficulties, market activity has been rising, with a daily turnover of more than $ 44 billion, which means that both institutional holders and sellers are still responsible instead of leaving the market.
This dynamic work shows that the current movement is driven more by the repositioning and dynamic movement than by the decreasing participation.
From a technical perspective, Bitcoin has broken below its 20-day, 50-day, and 100-day levels, strengthening the temporary trend.
The latest target is now at the support level of $72,650, which represents the most recent low and the key area that separates the consolidation from the deep resistance.
On the downside, the nearest resistance is the 50% Fibonacci retracement level at $74,332, which has now become the first barrier to stop any attempt.
If ETF outflows continue or global tensions persist, a definitive break below $72,650 could signal the market to move to the psychologically important level of $70,000, where interest rates and consumer interest could be strongly tested.
At the same time, the initial indicators are showing the first signs of exhaustion, with the 14-day RSI at 34.82, placing Bitcoin near the oversold zone and increasing the possibility of a short-term break within the broader downtrend.
