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Bitcoin drops below $73K after US-Iran conflict triggers $1B crypto liquidations

Market News
28 May 2026
Blockonomi
View Source
Bearish
pluang ai news

Bitcoin fell below $73,000 following US military strikes on an Iranian site near the Strait of Hormuz, causing about $1 billion in leveraged crypto positions to liquidate, mostly long positions. BlackRock's Bitcoin ETF saw $527.8 million withdrawn, contributing to a total $733.4 million outflow from Bitcoin spot ETFs on May 27. The broader crypto market lost over $40 billion in value amid escalating geopolitical tensions and institutional sell-offs. The market now faces key technical levels, with potential further declines if support breaks or recovery if prices rise above resistance.

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