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$BTC 💥 Nightmare dump! Bitcoin crashes below $75K – nearly 90,000 traders liquidated.
📉 Price update:
BTC is currently trading at $74,559**, down nearly **2%** in the last 24 hours, with a low of **$74,200. This is Bitcoin's lowest level in nearly two months – the recent rally has been completely wiped out.
⚠️ Liquidation carnage:
Over the past 24 hours, total crypto liquidations reached **$359 million**, with long positions taking the biggest hit ($312 million). Nearly 90,000 traders have been wiped out. Long/short ratios are brutal.
🔥 Key bearish news (US-Iran tensions resurface):
On the macro front, a "fake positive" turned into the last straw. Yesterday, Iranian media falsely reported that the US and Iran had reached a deal. The White House quickly denied it, calling the supposed memorandum of understanding "pure fabrication."
The fading geopolitical risk premium, combined with policy uncertainty, has triggered a capital flight from risk assets.
🏦 Institutional exodus:
It's not just retail traders getting wrecked – institutions are pulling out too. Data shows BlackRock’s Bitcoin ETF (IBIT) saw significant outflows, losing over $1 billion** last week alone and **$1.26 billion over the past six trading days. The loss of institutional buying power is a key driver of this decline.
📉 Technical outlook:
All eyes are on the $74,600** support level. If it breaks decisively below this level, it could open the door to **$73,000 or even $71,000.
💬 Final words:
US-Iran negotiations remain messy, and macro liquidity is tightening. It's a cold May for crypto. Whales are selling, retail is getting liquidated – are you still daring to buy the dip?
👇 Drop a comment below – how’s your portfolio holding up?
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