<\/p>\n
Bitcoin fell to its lowest level in more than six weeks as jitters over the economic outlook and outflows from US exchange-traded funds weighed on the largest cryptocurrency.<\/p>\n
Bitcoin dropped as much as 2.5% to $73 294 in Singapore Thursday, its weakest since April 14. Second-largest token Ether fell more than 4% to $1 970, its lowest in almost two months.<\/p>\n<\/p>\n
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Concerns that the ongoing US-Iran war will fuel inflation and trigger interest-rate increases are unnerving investors even as stocks have soared to record highs on optimism about artificial intelligence. US spot-Bitcoin ETFs have seen net outflows of about $1.5 billion so far in May.<\/p>\n
Bitcoin\u2019s weakness \u201clooks mostly macro-driven, not crypto-specific,\u201d said Sean McNulty, Asia-Pacific derivatives trading lead at FalconX. Higher US yields and a firmer dollar have tightened financial conditions, while ETF withdrawals and reports of a large block sale of the iShares Bitcoin Trust \u2014 the largest Bitcoin ETF \u2014 also dented sentiment, he said.<\/p>\n
IG Markets analyst Tony Sycamore said crypto traders are taking a more cautious stance as they wait for concrete progress out of the Middle East.<\/p>\n
\u201cFurthermore, with equity markets starting to look a little tired, Bitcoin is feeling the pinch as leveraged long positions get trimmed on the break of key support levels in the mid $70,000\u2019s,\u201d Sycamore said, adding near-term risks are tilted toward the downside.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #falls #sixweek #war #jitters #ETF #outflows<\/p>\n","protected":false},"excerpt":{"rendered":"
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