Bitcoin market turmoil: BTC sinks to six-week low near $72.6K as ETF outflows and liquidations surge

Bitcoin slid to a six-week low around $72.6K as accelerating ETF redemptions, forced unwinds of leveraged long positions, and mounting macro concerns weighed on risk assets. BlackRock's $IBIT posted its largest single-day outflow since inception, with $527.8M redeemed on May 28. US spot Bitcoin ETFs recorded $733.4M of net outflows for the session and more than $1B over the past three trading days. Across the broader crypto market, nearly $930M in positions were liquidated in the last 24 hours, affecting over 165,000 traders, according to CoinGlass. Pressure also built from rising Treasury yields, geopolitical tensions, and fresh warnings of a potential $150B liquidity drain from the US Treasury market. Analysts are increasingly focused on $75K as a key support level for Bitcoin bulls to hold.