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Bitcoin weakens near $73K as ETF demand cools and the downturn may continue
Bitcoin traded in a sideways range on Saturday after falling to a seven-week low near $72,000 in the previous session, pressured by unresolved tensions between the United States and Iran and weaker demand for exchange-traded funds (ETFs).
The world’s largest cryptocurrency was last trading 0.2% higher at $73,581.1 at 12:58 GMT.
Bitcoin has fallen by about 3% over the past seven days amid renewed military clashes and mixed signals from Washington and Tehran, which have undermined hopes for a quick diplomatic settlement in the Middle East.
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Bitcoin under pressure as ETF inflows cool
The weakness came even as the S&P 500 recorded its ninth consecutive weekly gain, marking its longest winning streak since 2023, while Brent crude stabilized around $92 per barrel amid hopes for an extension of the ceasefire between Washington and Tehran.
Market participants point to slowing inflows into spot Bitcoin ETFs as one factor behind the recent pullback. Cooling demand has offset support from broader risk appetite across financial markets.
Investor caution increased after CryptoQuant founder and CEO Ki Young Ju warned that Bitcoin’s current downtrend could persist until early 2027. In a post on X, formerly Twitter, which is blocked in Russia, Ju noted that historical profit-taking cycles have typically led to about 18 months of declining returns for investors before a sustained recovery begins.
According to Ju, the current phase of Bitcoin’s bear market began in October 2025, when investors started taking profits accumulated during the previous rally. He argues that prices may remain under pressure until unrealized profits begin to recover across the market.
However, not all indicators point to a prolonged downturn. CryptoQuant’s bull-bear cycle indicator turned positive earlier this month for the first time since 2023, while some analysts argue that Bitcoin may have already reached its cyclical low earlier this year.
Meanwhile, regulatory developments remain in focus. JPMorgan CEO Jamie Dimon again criticized the proposed Digital Asset Market Clarity Act, arguing that the legislation could create an uneven regulatory framework by allowing crypto firms to offer products resembling bank deposits without equivalent safeguards.
The bill, which would divide oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, is expected to be brought to a Senate vote in the coming months.
Investors are now watching whether ETF inflows recover and whether regulatory clarity can help improve sentiment across the broader cryptocurrency market.
Crypto prices today: most altcoins in the green
Most altcoins showed mixed performance on Friday at the end of the month.
The world’s No. 2 cryptocurrency, Ethereum, rose 0.4% to $2,017.63.
The world’s No. 3 cryptocurrency, XRP, gained 2.7% to $1.34.
Solana rose 1%, while Cardano climbed 1.2%.
Among meme tokens, Dogecoin gained 2.2%.
See also: "Bitcoin: May 30 overview — ETF capitulation and support test at $73,600"
