Bitcoin Dips Below $73K To Six-Week Low Even As Trump Declares US ‘Crypto Capital Of The World’
May 27, 2026
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According to The Kobeissi Letter, more than $230 million in leveraged Bitcoin long positions were liquidated in just 60 minutes
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On-chain analytics firm Glassnode said in a post on X that Bitcoin has retreated from the low-$80,000 region back toward the mid-$70,000 range as spot demand, ETF inflows, and volatility expectations continue to fade.
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Trump said late Wednesday in a post on Truth Social that “America is now the CRYPTO CAPITAL of the WORLD, and Builders and Entrepreneurs are coming BACK to the United States where they belong.”
Bitcoin (BTC) slipped below $73,000 on Thursday to its lowest level in more than six weeks as macroeconomic jitters, exchange-traded fund (ETF) outflows, and liquidations in leveraged positions weighed on the broader cryptocurrency market, shortly after U.S. President Donald Trump doubled down on digital assets.
The world’s largest cryptocurrency by market cap slid 3.5% to $72,885 during Asian trading hours, marking its weakest level since mid April. The second-largest token, Ether, fell more than 4.5% to $1,975.52, the lowest level in more than two months.
Meanwhile, Trump had said late Wednesday in a post on Truth Social that “America is now the CRYPTO CAPITAL of the WORLD, and Builders and Entrepreneurs are coming BACK to the United States where they belong.”
Heavy Liquidations, ETF Outflows Pressure Bitcoin
The sharp fall comes amid rising investor concerns that the ongoing U.S.-Iran conflict could reignite inflationary pressures and potentially force the Federal Reserve to keep interest rates higher for longer.
According to The Kobeissi Letter, more than $230 million in leveraged Bitcoin long positions were liquidated in just 60 minutes.
Meanwhile, Bloomberg reported that spot Bitcoin ETFs in the U.S. have also faced persistent selling pressure, with net outflows totaling roughly $1.5 billion so far in May.
On-chain analytics firm Glassnode said in a post on X that Bitcoin has retreated from the low-$80,000 region back toward the mid-$70,000 range as spot demand, ETF inflows, and volatility expectations continue to fade. “Positioning has reset, but conviction remains limited,” the firm said.
Glassnode analyst Chris Beamish said that Bitcoin volatility is being “crushed again,” with Deribit Bitcoin Volatility Index (DVOL), one of the most widely followed crypto indexes, hovering near 35, close to the lowest levels seen over the past year.
“The market feels very boring right now… which is usually when the next big move starts brewing,” Beamish said in a post on X.
Trump Says ‘Will Never Let Crypto Down’
Trump has been a vocal supporter of the crypto industry, repeatedly pledging to make the U.S. the “crypto capital of the world” and a global “Bitcoin superpower.”
In his social media post on Wednesday, the president chastized former SEC Chair Gary Gensler for creating a hostile environment for crypto companies “Gary Gensler and the “Anti-Crypto Army” nearly DESTROYED the American Crypto Industry by driving Bitcoin, Crypto Perpetuals, and INNOVATION offshore, but ‘TRUMP’ SAVED IT,” he said.
“Under my Leadership, we will codify a FUTURE-PROOF Digital Asset Market Structure that cannot be undone by the Crypto Haters. The new Frontier of Finance is being Built in America, and “TRUMP” will NEVER let Crypto down!”
What’s Retail Feeling About BTC?
On Stocktwits, BTC was top trending, even as sentiment retail slipped to ‘extremely bearish’ territory.
Meanwhile, the iShares Bitcoin ETF, BlackRock’s spot fund, slipped nearly 3% at the time of writing, while the Fidelity Wise Origin Bitcoin Fund (FBTC) declined 2.7%, with retail sentiment in the ‘bearish’ territory for both.
One bearish user said, “The money that could have been made on Bitcoin has already been made. Buyers are now just exit liquidity for early investors.”
Another user said, “$BTC everyone knows that betting on AI is literally the opposite of betting on bitcoin.”
Bitcoin has declined 33% in the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com
Aashika Suresh has no position in any of the stocks mentioned in this article. StockTwits’ news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits.
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