Bitcoin’s price tumbled, losing more than 3.5% in the past 24 hours.
The price of the cryptocurrency dropped by more than $2,000, causing widespread liquidations in derivative trades, totaling just under $1 billion.
There are a few reasons for this, so let’s have a look at the most likely ones.
US Resumes Strikes on Iran
Earlier today, CryptoPotato reported that the United States resumed military strikes against Iran. Specifically, a site belonging to the Iranian military was targeted. U.S. forces also reportedly shot down four Iranian drones near the Strait of Hormuz, as they were considered a potential threat.
Speaking on the matter, an official told Reuters:
“These actions were measured, purely defensive, and intended to maintain the ceasefire.”
Iran has already responded to recent events by launching an attack on a US military base in Kuwait. The Islamic Revolutionary Guard Corps (IRGC) confirmed the attack in a statement, warning that further acts of aggression would not be tolerated.
When oil prices jumped 5% following recent news, it added more pressure to the already struggling global economy. This immediately affected Bitcoin’s price, as it’s generally considered a riskier investment that tends to fall in value when there’s global instability or uncertainty.
$1.3B Block Sale on BlackRock
Yesterday, we noted a large sale of 29 million shares of IBIT, BlackRock’s Bitcoin ETF. This $1.3 billion transaction was the biggest of its kind ever recorded, and caused the largest single-day decrease in funds from Bitcoin ETFs.
Considering what I’ve learned, I’m now wondering if this entity had advance knowledge of future events. It really makes me question whether they were acting on inside information.
Leaving speculation aside, Bitcoin ETFs have become significant, and large sales of these funds will definitely have a broader impact than just a short-term price change. They reflect how much investors trust – or don’t trust – Bitcoin, and a $1.3 billion sale is bound to get people talking.
Read More
- Brent Oil Forecast
- USD CNY PREDICTION
- Silver Rate Forecast
- CNY JPY PREDICTION
- Gold Rate Forecast
- ETH PREDICTION. ETH cryptocurrency
- FIL PREDICTION. FIL cryptocurrency
- EUR USD PREDICTION
- USD VND PREDICTION
- DOGE PREDICTION. DOGE cryptocurrency
2026-05-28 11:15