Bitcoin holds near $73,840 on May 31, 2026 as stablecoin dominance rises and $70,000 comes into view

On May 31, 2026, bitcoin traded around $73,840, staying range-bound between $73,412 and $74,110 while multiple technical signals leaned bearish. Traders tracked $74,200 as a breakout trigger and $73,500/$73,100 as key downside levels, with some market gauges pointing to a potential move toward $70,000. Tether burned $1.2 billion in 24 hours and Blackrock's IBIT was cited as offloading $2.1 billion worth of bitcoin over the last ten days, alongside mixed institutional activity.