Bitcoin fell 3.2% to $72,800 on May 28, 2026, while Ethereum dropped more than 4.4% to $1,975, as broader crypto markets sank nearly 3% with over $80 billion erased. In the past 24 hours, about 165,000 traders were liquidated for $928 million, with 93% tied to long positions. Risk sentiment also weakened after reports of renewed US military strikes on Iran late Wednesday.

Analysts described a bullish long-term setup for Ethereum, with crypto investor DeFi Dad suggesting ETH could eventually reach around $20,000 if it follows Bitcoin's 2017-style pattern after a market bottom. However, some technicians warned the downside could come first, including a potential drop toward $1,500 if key support fails. ETH was trading below $2,100, with an intraday low of $2,060 and nearly 10% lost over the past two weeks.

Bitcoin retreated below $76,500 on Tuesday morning after rising to an intraday high of $77,700 on Monday. The pullback followed reports that the US resumed strikes in Southern Iran, while analysts pointed to $70,000 as a key support zone if geopolitical tension persists.

Crypto prices were largely steady over the past 24 hours after a weekend bounce tied to comments from US President Donald Trump about a potentially "largely negotiated" Iran deal. The week of May 25–29 features major US inflation and growth releases, including May consumer confidence, April PCE, and Q1 2026 GDP, alongside data such as new home sales and jobless claims. Bitcoin dipped to $76,000 late Sunday and later rebounded above $77,000, while Ether slipped below $2,100 as altcoins stayed mostly flat.

About 20,500 Bitcoin options are due to expire on Friday, May 22, representing roughly $1.5 billion in notional value. The batch carries a 0.69 put/call ratio and a max-pain level near $79,000, while broader crypto market cap slipped to $2.67 trillion and BTC dipped to an intraday low of $76,750 after failing at $78,000.

Analysts said Bitcoin's failure to clear its 200-day moving average has started to resemble prior reversal setups, raising the risk of a deeper pullback. They highlighted $70,000 as a key on-chain support level, warning that a break could drag BTC back into the $60k zone and potentially to fresh bear-market lows. BTC also tested $78,000 during Thursday's Asian session after rising about 1.7% from $76,600, but that area was described as near-term resistance.

Ethereum trader sentiment has turned notably bearish, with a Binance taker buy/sell ratio reading of 0.91 and returning to levels last seen in September 2023. ETH was down 8% over the past seven days and slipped to a six-week low just under $2,100 in late trading on Tuesday, with traders watching $2,000 as the next support.

The US Securities and Exchange Commission is expected to publish an "innovation exemption" designed to open a path for trading tokenized versions of stocks on crypto venues. Bloomberg reported Tuesday that the framework, developed under direction from the Trump administration, could be finalized this week and may allow trading on decentralized platforms. Tokenized stocks remain a small segment of tokenized real-world assets, totaling $1.45 billion, or 4.3% of distributed TVL.

Crypto markets reversed sharply over the weekend, erasing nearly three weeks of gains as selling intensified. The May 18–22 calendar features U.S. housing and labor data, Fed communications including FOMC minutes, and Nvidia earnings on Wednesday—events that could sway risk assets. Bitcoin slipped under $77,000 in Asian hours, while total crypto market value dropped about $130 billion to $2.64 trillion and Ether fell 2.4% to $2,100.