On Thursday, May 28, 2026, BTC continued its slide, reaching $74,353, marking a 1.9% drop for the day and a 4% decline over the week. ETH also fell, trading at $2,023, a 1.9% loss in 24 hours. The crypto market has been in the red for the third consecutive day, eroding hopes of a recovery.
This bearish trend unfolds against a backdrop of tightening global financial conditions. Central banks, particularly the U.S. Federal Reserve, maintain a cautious stance on interest rates, which diminishes the appeal of speculative assets. Furthermore, outflows from BTC Exchange-Traded Funds (ETFs) accelerated this week, signaling a disengagement from institutional investors. ETH, being less liquid, tends to amplify these movements.
Analysts view this correction as a necessary purge following the first quarter’s rally. BTC is now testing the $74,000 support level, a price point that previously acted as a floor in April. Should this threshold break, the next support zone lies around $70,000. ETH, hovering near $2,000, might attract opportunistic buyers, but the overall momentum remains negative. Investors are awaiting a catalyst, such as a positive regulatory announcement, to reverse the current trend.
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