BlackRock clients were reported to have sold $177.95 million worth of Bitcoin, adding uncertainty around institutional positioning as BTC trades near a key support area. Bitcoin was around $73,397 while testing the lower bound of an ascending channel near $73.8K, with bearish MACD readings and a downside level cited at $65,657 if support fails. At the same time, exchange data showed net outflows of $17.31 million and the NVT Golden Cross fell 905.57% to -0.1688, suggesting on-chain conditions were not signaling an overheated market.

On Friday, May 29, bitcoin fell to a multiweek low of $72,395 before rebounding above $74,000 and briefly reaching $74,223. The move followed reports of a tentative U.S.-Iran understanding to reopen the Strait of Hormuz, with bitcoin later trading slightly below $74,000. Over a four-hour span, liquidations totaled $111.7 million, including $69.3 million in shorts and $29.5 million in longs.

Strategy (formerly MicroStrategy) moved 411.48 BTC—valued at about $30.3 million—to Coinbase Prime on May 29, its first direct exchange-linked deposit since 2024. The transfer helped lift Polymarket's implied odds of a Strategy bitcoin sale before Dec. 31 to 84%, though the deposit itself does not prove liquidation.

Global equities have pushed to fresh highs, while Bitcoin (BTC) trades nearly 42% below its all-time peak. XWIN Japan argues the gap reflects different drivers—stock gains tied to AI-related earnings and buybacks, versus BTC's reliance on new liquidity, as spot Bitcoin ETFs saw more than $3.5 billion in outflows since May 15. The firm says a recovery would likely require stronger ETF inflows, higher on-chain activity, and a better Coinbase Premium.

On 29 May 2026 at 19:24, Bitcoin briefly touched $74,000 after Donald Trump posted what he described as emerging US-Iran deal conditions on Truth Social. The price later eased to $73,700, with traders watching resistance at the 0.382 Fibonacci level of $74,155 and support near the SMA100 at $73,060.

On May 29, nine additional long-idle bitcoin wallets moved 370 BTC worth about $27.9 million, bringing the week's total to more than 665 BTC shifted from long-silent addresses in under 48 hours. Earlier, 19 transfers from legacy P2PKH wallets created in 2014 and 2015 moved 665 BTC valued at just over $48 million while BTC traded below $74,000. Separately, data cited from checkonchain.com shows 103,913.94 BTC (estimated at about $7.6B) has left dormant addresses aged five to 15 years in 2026.

Bitcoin traded around $73,200 on Thursday after failing to hold a rebound, with broader crypto selling keeping pressure on price. US spot Bitcoin ETFs logged $229 million of net outflows on May 28, stretching the negative streak to nine days and putting weekly outflows near $1.3 billion. Options and on-chain signals also point to fragile sentiment as BTC slipped below $73,000 and briefly neared $72,500.

Weekly charts captured on May 29, 2026 (10:39–10:42 UTC) show both gold and Bitcoin pulling back from cycle highs, with Parabolic SAR still sitting above price for each asset. Gold is shown at $4,541.89 versus a $5,598.13 peak, while Bitcoin is shown at $73,539 after topping at $126,296. The setup highlights weakening momentum in gold alongside early MACD improvement in Bitcoin, raising questions about whether capital may be rotating.