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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting intensifying selling pressure on crypto assets, Bitcoin price broke through the critical $75,000 technical support level to reach $74,305. According to reports, the decline was exacerbated by massive capital flight from spot Bitcoin ETFs, which recorded $1.26 billion in outflows in a single week and a total of $2.26 billion over a fortnight. This shift comes as hawkish Federal Reserve expectations continue to dampen institutional appetite for high-risk assets.
This downturn coincides with broader weakness across the crypto sector, with Ethereum struggling to maintain levels above $3,000 per market data. Analysts note that the combination of a resilient U.S. Dollar and Treasury yields holding above 4.4% has triggered the fastest pace of ETF liquidations in months. These outflows, totaling billions of dollars, represent a significant pivot from the institutional accumulation seen earlier in the year.
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Sign InTraders are now focused on the next support zone near $72,000, with Bitcoin trading at $74,305 (close May 24, 2026). Key catalysts to watch include Fed Governor Waller’s speech on May 19, 2026, and Canadian retail sales data for further clues on global liquidity. Continued net outflows from spot ETFs remain the primary risk factor for further price degradation in the near term.
Update: The decline accelerated as a $766 million liquidation event wiped out leveraged positions, pushing prices down nearly 10%. This selling pressure is being fueled by sticky inflation data and weakening consumer sentiment, which have significantly reduced market expectations for near-term Federal Reserve rate cuts.
Update: Selling pressure intensified as U.S. spot Bitcoin ETFs recorded their sixth consecutive day of outflows, with an additional $105.2 million exiting the market on Friday according to reports. This sustained streak of withdrawals highlights a cooling of institutional appetite amid ongoing uncertainty regarding the U.S. monetary policy path.