US Bitcoin spot ETFs posted $228.88M in daily outflows, led by IBIT, GBTC, FBTC, and BRRR, while mid-tier ETFs held stable.
Crypto trader and analyst Michaël van de Poppe believes one main factor is preventing Bitcoin (BTC) and other digital assets from having massive break outs. Van de Poppe tells his 821,300 followers on X that the crypto market is being weighed down by the global economic impacts of the US-Iran conflict.
Bitcoin trades near $73,000 as analysts watch BTC support, short covering, and weakening momentum on key technical charts.
Arca CIO Jeff Dorman warned that Strategy's Bitcoin-heavy balance sheet has entered a more dangerous phase, arguing that the company, Bitcoin holders and its preferred shareholders are now locked in a difficult capital-structure tradeoff. In a May 28 post on X, Dorman said he is “not in Saylor's inner circle,” but argued that the MSTR story has “gotten so out of hand” that the company's recent moves now look increasingly hard to reconcile with a stable long-term financing plan.
A New York lawsuit is seeking to treat some of Bitcoin's oldest dormant wallets, including addresses tied to the cryptocurrency's creator, as lost property valued at less than $10 each.
As traders prepare for the weekend, attention turns to key technical levels for Bitcoin and Ethereum. Support and resistance zones, along with the 200-day moving average narrative, will likely dictate short-term positioning and risk management decisions.Market Snapshot Bitcoin price action over the past 7 days.
The tentative US-Iran ceasefire extension could stabilize oil markets and influence crypto volatility, highlighting geopolitical impacts on assets. US and Iran reach preliminary deal to extend ceasefire by 60 days, Bitcoin reacts.
Bitcoin tumbled beneath the $73,000 threshold this Thursday following a military strike by Iran's Islamic Revolutionary Guard Corps targeting a United States airbase situated in Kuwait. The escalation in Middle East hostilities triggered a defensive posture across financial markets, driving the aggregate cryptocurrency market capitalization down from $2.54 trillion to $2.45 trillion within hours.
BlackRock's spot Bitcoin (BTC) ETF, iShares Bitcoin Trust ($IBIT), recorded a sharp one-day net outflow of $528 million, marking its second-largest daily redemption since launch and testing the market's perception of ‘institutional demand' even as Bitcoin pushed back above the $73,000 level. According to data cited by Wu Blockchain, the outflow came in the prior session and stood out for its size—but not necessarily for what it implies over the longer term.
Fidelity says Bitcoin toll reports and strong gold demand show growing pressure on dollar-based settlement systems.
Bitcoin (BTC) is at a pivotal level as geopolitical tensions rise and bearish setups emerge, prompting some analysts to warn of a potential 15% correction if a critical support area doesn't hold. Related Reading: Dogecoin Rally Loading?
Ripple veteran David Schwartz has downplayed the significance of what seems to be the most audacious legal action in the history of crypto that could overshadow the past efforts of Australian computer scientist Craig Wright. According to Wright, the core legal arguments are comically bad.