- Bitcoin (BTC) fell to around $73,000 amid ETF outflows and geopolitical tensions.
- ETF outflows of over $2 billion and liquidations of $900 million added to selling pressure.
- Major support is located at $72,650 with the RSI near oversold levels at 34.82.
Bitcoin slid below the $73,000 level due to a combination of geopolitical escalation, heavy ETF redemptions, and significant institutional selling pressure weighing on the market.
At the time of writing, Bitcoin is trading around $73,235, having briefly touched an intraday low of $72,604 from a high of $74,490.
This decline has extended a multi-week decline that has already erased more than 8% over the past 14 days and nearly 33% over the past year.
The geopolitical shock and forced liquidation are accelerating the downward trend
The bulk of the decline came after renewed US military strikes on Iran, which sparked a widespread risk-off reaction in global markets.
Cryptoassets have been hit particularly hard due to their exposure to high leverage.
During the sell-off, more than $900 million worth of cryptocurrency positions were liquidated, according to market data collected during the session.
Liquidations were concentrated in overly leveraged long positions, leading to additional selling into already thin order books.
This cascading effect pushed Bitcoin below the $73,000 threshold and briefly accelerated the bearish momentum before stabilizing within the day’s range.
The move also coincided with an increase in correlation to traditional risk assets, with Bitcoin’s correlation to the Nasdaq Composite Index standing at 0.96, one of the highest levels seen in recent months.
Bitcoin ETF outflows deepen institutional selling pressure
Combined with macroeconomic fluctuations, institutional inflows have added continued pressure on Bitcoin’s price.
Bitcoin exchange-traded funds have recorded eight straight days of net outflows, marking one of the longest negative streaks since their introduction.
On May 27 alone, ETF outflows reached nearly $733 million, contributing to a broader net withdrawal of more than $2 billion since mid-May.
These redemptions reflect continued selling pressure from institutional investors, reducing exposure during the recent recession.
The biggest point of pressure during the session was related to institutional trading related to a reported $1.3 billion exchange-traded fund (ETF), which included approximately 29.2 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), which executed at an estimated price of $43.16 per share.
The trade was reportedly processed through private market channels before the effect was reflected in the spot markets.
After execution, Bitcoin fell approximately 1.4% to 1.5% within minutes, suggesting that liquidity conditions were weak enough for large orders to impact pricing in the short term.
This has added to the existing ETF-led selling momentum that is already present across the market.
Bitcoin price forecast
Over the past month, Bitcoin has fallen by about 4.7%, while the 14-day decline of 8.4% indicates a broader downtrend that has been steadily developing in recent weeks.
The asset remains well below its highs, trading roughly 42% below the peak of $126,080 recorded in October 2025.
Even with the decline, market activity remained high, with daily trading volume exceeding $44 billion, indicating that institutional and retail participants are still taking active positions rather than exiting the market entirely.
This continued activity suggests that the current movement is driven more by repositioning and flow shifts than by a decline in overall participation.
From a technical perspective, Bitcoin broke below the 20-day, 50-day, and 100-day moving averages, reinforcing the short-term bearish structure.
The immediate focus is now on the $72,650 support level, which represents the most recent swing low and the key area separating consolidation from deeper downside pressure.
On the upside, the nearest resistance is the 50% Fibonacci retracement level at $74,332, which has now become the first real barrier to any recovery attempt.
If ETF outflows continue or geopolitical tensions remain high, a decisive break below $72,650 could expose the market to a potential move towards the psychologically important $70,000 level, where liquidity and buyer interest may be tested more strongly.
At the same time, momentum indicators are showing early signs of exhaustion on the downside, with the 14-day RSI at 34.82, putting Bitcoin near oversold territory and increasing the likelihood of a short-term relief bounce within the broader downtrend.
