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▲ Iran, US, Bitcoin (BTC)/AI generated image
As no progress was confirmed in the Iran peace talks, risk-averse sentiment resurfaced, pushing Bitcoin below $76,000 and leading to a general weakness across major cryptocurrencies.
According to financial news outlet Benzinga on May 26 (local time), Bitcoin (BTC) fell below $76,000 on Tuesday as no signs of de-escalation in geopolitical tensions emerged. Ethereum (ETH), XRP, and Dogecoin (DOGE) also showed weakness of approximately 2%, spreading pressure across the broader cryptocurrency market.
According to Coinglass data, 98,017 traders were liquidated in the last 24 hours, with the total liquidation volume reaching $322.94 million. SoSoValue data showed a net outflow of $105.2 million from Bitcoin spot ETFs on May 22, and a net outflow of $6.7 million from Ethereum spot ETFs.
Benzinga mentioned Worldcoin (WLD), Artificial Superintelligence Alliance (FET), and Kite as the main gainers in the last 24 hours. However, with major cryptocurrencies simultaneously showing weakness, the market's focus shifted from short-term rebounds to whether key support levels would be defended.
Trader Stockmoney Lizards warned that Bitcoin might need to go through more re-accumulation phases, re-tests, and liquidity sweeps rather than an immediate bullish rally. He noted that a rejection pattern is likely in the short term, but maintained a bullish outlook in the broader trend, suggesting Bitcoin could re-visit the $100,000 to $120,000 range by the end of the year.
Trader Seth diagnosed that while Bitcoin is experiencing light turbulence, institutional selling pressure is easing. Seth stated that the key lies in whether large investors re-enter an accumulation phase, and if this movement is confirmed, market momentum could quickly turn bullish. The current key price level is $75,000, and the assessment is that the market structure remains intact as long as Bitcoin stays above this support zone.
Trader Tardigrade pointed out that Bitcoin traders are struggling with repeated rejections near the $78,000 resistance level. The $76,178 range has repeatedly acted as a key support level, and buying interest has emerged even during recent attempts to fall. The market views this range as an important support on higher time frames.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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