{"id":29985,"date":"2026-05-28T08:20:32","date_gmt":"2026-05-28T08:20:32","guid":{"rendered":"https:\/\/bitunikey.com\/news\/why-is-the-crypto-market-going-down-today-may-28\/"},"modified":"2026-05-28T08:20:43","modified_gmt":"2026-05-28T08:20:43","slug":"why-is-the-crypto-market-going-down-today-may-28","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/why-is-the-crypto-market-going-down-today-may-28\/","title":{"rendered":"Why is the crypto market going down today? (May. 28)"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">The crypto market remained under pressure on Thursday as renewed military tensions between the United States and Iran triggered another sharp wave of liquidations and ETF outflows.<\/p>\n<div id=\"cn-block-summary-block_c4434ffe11c21a1460ec9e0d530d6d62\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin fell under the $73,000 mark as U.S.-Iran tensions, rising oil prices, and liquidations pressured crypto markets.<\/li>\n<li>U.S. spot Bitcoin ETFs recorded $733 million in outflows on Wednesday, extending their losing streak to eight straight days.<\/li>\n<li>More than $900 million in leveraged crypto positions were liquidated after Bitcoin and Ethereum broke key support levels.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from CoinGecko, the total cryptocurrency market capitalization fell roughly 4% over the past 24 hours to around $2.48 trillion, while Bitcoin (BTC) dropped from the $76,000 region to hit a five-week low below $73,000 before recovering slightly at press time.<\/p>\n<p>Ethereum (ETH) fell more than 5% below the $2,000 mark, while major altcoins, including Solana (SOL), XRP (XRP), BNB (BNB), Dogecoin (DOGE), and Hyperliquid (HYPE), recorded losses ranging between 6% and 14% as traders continued reducing exposure to risk assets amid rising macro uncertainty.<\/p>\n<p>According to CoinGlass <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/liquidations\" target=\"_blank\" rel=\"nofollow\">data<\/a>, over $900 million worth of crypto positions were liquidated across the derivatives market over the past 24 hours, with bullish long positions accounting for most of the wipeout.<\/p>\n<p>The latest decline accelerated after Bitcoin lost support near $75,000 while Ethereum broke below the $2,100 area, triggering another cascade of forced liquidations across leveraged trading platforms.<\/p>\n<p>As exchanges automatically closed underwater bullish positions, the additional forced selling added more pressure to spot prices and intensified downside momentum across the broader market.<\/p>\n<h2 class=\"wp-block-heading\">Oil prices jump as U.S.-Iran tensions escalate<\/h2>\n<p>Investor sentiment also deteriorated after military tensions between Washington and Tehran intensified again this week.<\/p>\n<p>WTI crude futures climbed 2.6% to trade above $91 per barrel on Thursday, while Brent crude rose toward the $96 region after reports emerged that U.S. forces struck Iranian military targets believed to threaten commercial shipping routes near the Strait of Hormuz.<\/p>\n<p>At the same time, Iran\u2019s Revolutionary Guard reportedly targeted a U.S. airbase, though officials did not disclose the location.<\/p>\n<p>Negotiations between both countries also remained deadlocked, with Iran reportedly insisting on retaining control over the Strait of Hormuz and preserving its nuclear program as part of any potential agreement.<\/p>\n<p>The latest escalation weakened expectations for a short-term peace deal that could reopen the key shipping corridor and normalize global oil flows.<\/p>\n<p>Rising energy prices added to fears that inflation could remain elevated for longer, potentially reducing the likelihood of near-term Federal Reserve interest-rate cuts and tightening liquidity conditions for speculative assets such as cryptocurrencies.<\/p>\n<h2 class=\"wp-block-heading\">ETF outflows extend as institutions reduce exposure<\/h2>\n<p>Institutional demand also weakened considerably over the past two weeks.<\/p>\n<p>U.S. spot Bitcoin ETFs recorded roughly $733 million in net outflows on Wednesday, the largest single-day withdrawal since February this year. The latest exits additionally extended the products\u2019 losing streak to eight consecutive trading sessions.<\/p>\n<p>Meanwhile, spot Ethereum ETFs extended their own outflow streak to 12 straight days after another $67 million exited the funds on Wednesday.<\/p>\n<p>Cumulative withdrawals from U.S. spot Bitcoin ETFs have now reportedly reached $2.33 billion over the past two weeks as institutional investors continued rotating capital away from crypto products during the recent volatility.<\/p>\n<figure class=\"wp-block-image size-full is-resized\"><figcaption class=\"wp-element-caption\">Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\" target=\"_blank\" rel=\"nofollow\">SoSoValue<\/a><\/figcaption><\/figure>\n<p>In a report shared with crypto.news, Bitfinex analysts highlighted that Bitcoin\u2019s market structure weakened after a recent $766 million liquidation event, rather than undergoing a full leverage reset typically seen after large derivative flushes.<\/p>\n<p>The analysts noted that futures open interest dropped sharply after Bitcoin corrected more than 10% from highs above $82,000. However, leveraged positioning reportedly returned unusually quickly afterward, largely driven by retail traders reopening bullish positions on crypto-native exchanges.<\/p>\n<p>Analysts added that institutional venues such as CME have not shown similar leverage activity, while the Coinbase Premium Gap remained negative despite elevated funding rates.<\/p>\n<p>The report also noted that options traders continued paying premiums for downside protection ahead of Thursday\u2019s U.S. Personal Consumption Expenditures report, the Federal Reserve\u2019s preferred inflation gauge.<\/p>\n<p>\u201cA hot print for PCE on Thursday, 28 May would increase stress on the leverage-long book by shifting the rate path outlook, whereas an in-line print would remove the macro catalyst, forcing the range to resolve purely on positioning dynamics,\u201d Bitfinex analysts said.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market remained under pressure on Thursday as renewed military tensions between the United States and Iran triggered another sharp wave of liquidations and ETF outflows. Summary Bitcoin fell&hellip;<\/p>\n","protected":false},"author":1,"featured_media":29986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=29985"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29985\/revisions"}],"predecessor-version":[{"id":29987,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29985\/revisions\/29987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/29986"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=29985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=29985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=29985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}