Bitcoin slid 3.6% early Thursday to a multi-week low of $72,622 before hovering just above $73,000. The move coincided with reports of fresh U.S. military strikes inside Iran and helped trigger broad deleveraging, with more than $930 million in leveraged positions liquidated and $870 million in long positions wiped out over 24 hours.

Bitcoin is trading around $73,000 after falling about 11% from earlier-month highs above $82,500, with some analysts warning downside pressure may not be finished. A note from Mott Capital's Michael Kramer highlights U.S. Treasury settlements scheduled for May 28 to June 5 as a potential $150 billion liquidity drain that could weigh on BTC and keep key levels like $72,000–$75,000 in focus.

In Q1 2026, publicly traded Bitcoin miners including Core Scientific, Cipher, and IREN reduced parts of their mining operations and redirected power and infrastructure toward AI and high-performance computing. The shift comes as mining revenues face historically low hashprice levels and tougher network competition, making AI/HPC colocation and cloud deals a growing earnings driver. The article argues miners are increasingly valued for power access, cooling, and infrastructure control rather than Bitcoin output alone.

Bitcoin (BTC) fell to about $73,235 after dipping to $72,604, as renewed US strikes on Iran and sustained spot Bitcoin ETF redemptions weighed on risk sentiment. More than $900 million in crypto liquidations and over $2 billion in ETF outflows since mid-May added to the selling, with traders watching $72,650 support and a 14-day RSI of 34.82.

Bitcoin fell below $75,000 for a second time in May, sliding to about $73,600 at publication and printing a session low near $72,600 after an earlier intraday dip around $74,200. May 23 marked the first break under $75,000, which coincided with spot ETF outflows and forced liquidations. Glassnode argues the $75,000–$78,000 zone is acting as a ceiling, with more than $8 billion of negative gamma near $75,000 and roughly $2.26 billion in US spot Bitcoin ETF outflows over two weeks through late May.

President Donald Trump posted on Truth Social backing digital assets, shortly before the U.S. Department of Defense exchanged fire with Iran that coincided with renewed pressure on Bitcoin and the broader crypto market. From Jan. 20, 2025 to May 28, 2026, total crypto market cap slid from $3.45 trillion to $2.44 trillion, while BTC fell 28.53% from $102,573 to $73,307.

Bitcoin's 30-day exchange net flow shifted into inflow territory and reached +103K BTC on May 26, after first turning positive on May 18. Over the same window, stablecoin net flow to centralized exchanges flipped negative and fell as low as -$153M per day on May 27, signaling reduced on-exchange buying liquidity. The combination points to rising sell-side supply alongside weakening demand, while key inflection levels are whether BTC inflows stay above +100K BTC and whether stablecoin flows recover back toward zero.

Bitcoin fell under $73,000 after sliding more than $2,000 and losing over 3.5% over the past 24 hours. The move coincided with derivatives liquidations totaling just under $1 billion, amid market nerves tied to renewed US-Iran tensions and a reported $1.3 billion block sale of BlackRock’s IBIT shares.