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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting the high sensitivity of digital assets to rising geopolitical risks, Bitcoin price fell below the $73,000 level following reports of fresh military strikes between the US and Iran. This downturn triggered massive liquidations across the crypto market nearing $932 million, as the total market capitalization tumbled by over 3%. Additionally, BlackRock's Bitcoin ETF (IBIT) posted a record daily net outflow of $527.8 million, significantly weighing on broader investor sentiment.
This technical breakdown occurs as global markets shift into a risk-off mode, with traders closely monitoring oil prices and gold as traditional safe havens. Compared to the previous quarter, market data shows Bitcoin losing the bullish momentum that drove it to record highs earlier this year, while altcoins like Ethereum saw similar percentage declines per market data. Experts suggest that breaking the psychological support at $73,000 could open the door for further price correction if military escalations persist.
BTC is currently trading at critical levels as investors watch the market close on May 28, 2026, to determine the next directional move. Looking at the economic calendar, markets are awaiting the Michigan Consumer Sentiment and inflation expectations data, which could exacerbate volatility if figures deviate from forecasts. Focus remains on ETF flow data as a primary indicator of whether institutional liquidity will return or if the flight to safety will continue.
Update: Bitcoin faced additional selling pressure following the release of the U.S. Personal Consumption Expenditures (PCE) Price Index, which rose to 3.8% in April. These figures, the Federal Reserve's preferred inflation gauge, have strengthened the case for a hawkish monetary stance, further weighing on risk assets alongside ongoing geopolitical tensions.
Update: Technical analysts note that current selling pressure has formed a 'bearish flag' pattern, signaling a potential continuation of the downtrend. If the price fails to recover its previous levels, forecasts suggest Bitcoin could test lows as deep as $44,000 as a technical target for this negative formation.
Update: Market anxiety has intensified as the Strait of Hormuz emerged as the primary locus of ongoing military tensions, dragging Bitcoin to its lowest price level since April 13, 2026. This decline underscores deep-seated fears regarding global supply chain disruptions and their immediate impact on risk appetite within the digital asset sector.
Update: Bearish pressure intensified as Bitcoin breached its 100-day moving average at $73,017, dragging the cryptocurrency to a six-week low. This marks the third consecutive day of declines, confirming a technical breakdown amid sustained geopolitical tensions.