The cryptocurrency market started the week under strong selling pressure, with Bitcoin ($BTC) falling toward the $70,000 level. Analysts say that the decline has been driven by escalating tensions between the United States and Iran, as well as Bitcoin sales by institutional investors, including Strategy.
Bitcoin dropped to a two-month low on Tuesday, extending recent losses after the largest corporate cryptocurrency holder, Strategy, sold part of its Bitcoin holdings for the first time in nearly four years.
Bitcoin dropped to a seven-week low as hopes for a ceasefire agreement between the United States and Iran began to fade, while oil prices surged sharply higher.
XRP has fallen to its lowest level in more than three months as persistent selling pressure continues to outweigh signs of investor accumulation, creating a conflict between on-chain activity and market performance.
According to the latest data published by Glassnode, the short-term outlook for the Bitcoin market continues to deteriorate. The company stated that Bitcoin is trading around $71,300 and that downside risks remain elevated due to increasing selling pressure in the spot market and accelerating ETF outflows.
Solana has completed eight consecutive months of negative performance for the first time in its history. As of June 1, 2026, SOL was trading around $81 despite on-chain metrics remaining at levels that would have been considered highly bullish just a year ago.
In May 2026, the cryptocurrency market ended the month in the red. Bitcoin lost 3.41%, while Ethereum declined by 11.07%, according to CoinGlass data.
BitMine, the largest holder of Ethereum, may face major problems this year. The company currently holds 5.28 million Ethereum tokens, representing 4.37% of the circulating supply.
Bitcoin is trading near $73,000 as charts from Man of Bitcoin and CW show $BTC at a short-term decision point. One setup warns that bullish momentum is weakening, while the other shows shorts closing as selling pressure starts to fade.
Bitcoin price started a fresh decline below the $74,000 zone. $BTC is consolidating and might struggle to stay above the $72,000 support.
$XRP price started a recovery wave above $1.290 and $1.2950. The price is now consolidating and might aim for a fresh move if it clears $1.3350.
Another day, another crypto market price drop, and another $900+ million in liquidations in the derivatives market. Unlike the previous weekend’s mass liquidations, ZCash [$ZEC] bulls were unable to shrug this hit off.
The morning drop on May 28 to a session low of $72,642 brought Bitcoin close to locking in an overall loss for May, extending the week-long decline from the May 25 peak of $78,000.
Ethereum fell below $2,000 for the first time since March 29, triggering a wave of retail FOMO and “buy the dip” sentiment across social media.
Bitcoin updated its local low, reaching $72,462 — a level not seen since April 13. A convergence of several negative factors put pressure on an already weakened market.
Ethereum price has continued struggling to build momentum above the $2,000 level after repeated rejection near major resistance zones. Analysts have warned that another wave of selling could drag $ETH toward the $1,800 region if current support levels fail.
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