Bitcoin Cracks Below $70K: ETF Bloodbath and Iran Tensions Spark Bearish Breakdown as Bears Eye $67K

BTCUSD trades below $70000 on weak ETF outflows and escalation of US-Iran geopolitical tension. It has dropped to $7 and is now trading at about $72596.

Institutions have been pulling a lot of money out of US spot Bitcoin ETFs. Over four consecutive trading days, these ETFs lost $1.34 billion. The largest single-day withdrawal was $635 million on May 13, 2026, which marks the biggest outflow since January. BlackRock’s IBIT fund contributed $355.5 million to that day's outflows alone. The total $1.34 billion withdrawn over these four sessions exceeds the $1.13 billion that was pulled out over three days earlier in the year. During this period, public sentiment about Bitcoin on social platforms also reached a five-week low. This shift suggests that institutional investors are moving from buying to selling Bitcoin. With this primary source of demand removed, Bitcoin could experience lower trading volumes, become more susceptible to price declines, and face increased pressure from sustained selling.

 Major support- $67000/$64000/$60000. Minor bullishness only above $78000. Any break above targets $80000/$82000/$85890/$90000.

It is good to sell on rallies around $75000, with an SL around $78000, for a TP of $70000/$67000.