Bitcoin falls below $73K to six‑week low as Trump calls US “crypto

Bitcoin dropped to $72,845 on Thursday, marking its lowest level in more than six weeks and the lowest point since mid‑April [2]. The dip came just hours after President Donald Trump declared the United States the “crypto capital of the world,” a claim that did little to calm investors’ nerves.

The slide unfolded amid a mix of geopolitical and market pressures. An Axios report cited U.S. officials saying Washington and Iran had reached a 60‑day cease‑fire memorandum, but Trump had not yet signed off, and a second U.S. strike on Iran later that week pushed oil prices back above $97 a barrel [2]. Higher oil and lingering inflation worries have kept expectations for a Fed rate cut low, a backdrop that traditionally hurts risk‑on assets like Bitcoin. Deutsche Bank analysts linked the recent downturn to Trump’s nomination of Kevin Warsh as Fed chair, fearing a more hawkish stance could keep rates elevated [1].

Institutional flows added to the bearish sentiment. Spot Bitcoin ETFs in the United States recorded net outflows of $733.43 million on May 27, one of the largest single‑day withdrawals in recent weeks, while crypto‑related ETFs have shed over $2.5 billion in the past two weeks [2]. A dark‑pool block trade of $1.29 billion tied to BlackRock’s iShares Bitcoin Trust also coincided with a sharp reversal earlier in the week, suggesting heavy selling pressure from large investors.

Despite the sell‑off, some analysts see the market finding a new floor. Deutsche Bank noted that Bitcoin is moving from a “purely speculative asset” toward a more realistic role, even if short‑term price recovery looks uncertain [1]. William Barhydt of Abra Capital Management expects a rebound, arguing that only a major conflict could keep Bitcoin from recovering [1].

The episode underscores how quickly political rhetoric can be eclipsed by macro‑economic realities and institutional behavior. With the Fed’s policy outlook still uncertain and geopolitical tensions persisting, Bitcoin’s next move may hinge on whether investors view the current support around $70,000 as a firm base or a temporary reprieve. The real question is whether Trump’s pro‑crypto agenda can translate into sustained market confidence, or if the digital currency will continue to wobble under broader economic headwinds.