{"id":59786,"date":"2026-05-28T04:47:36","date_gmt":"2026-05-28T04:47:36","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=59786"},"modified":"2026-05-28T04:47:36","modified_gmt":"2026-05-28T04:47:36","slug":"bitcoin-dropped-is-sub-70000-btc-next","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=59786","title":{"rendered":"Bitcoin dropped &#8211; Is sub-$70,000 BTC next?"},"content":{"rendered":"<p>Bitcoin dropped closer to a critical support level as spot and long futures traders\u2019 efforts to hold $75,000 failed.\u00a0<\/p>\n<p>Bitcoin\u2019s (BTC) rising funding rate and aggregated open interest suggest bullish investors are opening longs in an attempt to defend the range lows and an important support at $70,000, but another day of spot ETF outflows has investors concerned that the institutional stance on BTC is shifting.<\/p>\n<p>As shown in the chart below, Bitcoin open interest remains relatively stable despite the day-over-day selling, further re-enforcing the view that long positions are either topping up to stay open or newly created. The cross-exchange funding rates (the last indicator at the bottom of the chart) are also mostly positive to neutral, indicating a long-leaning bias among investors.\u00a0<\/p>\n<p>&nbsp;<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1084.png\" alt=\"\" width=\"896\" height=\"560\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1084.png\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p><em>BTC\/USDT one-hour chart. Source: <\/em><em>Velo.xyz<\/em><em>\u00a0<\/em><\/p>\n<p>Prior to the drop to $73,000, liquidations remained within norms of BTC\u2019s intra-day range percentage-wise, suggesting that this week\u2019s price action is a continuation of the current consolidation rather than early confirmation of a higher-timeframe trend change.\u00a0<\/p>\n<p>One important point to consider is \u201cwho\u201d is propping BTC up. Hyblock\u2019s True Retail Longs &amp; Shorts Accounts indicator shows retail investors increasingly viewing corrections as dip-buying opportunities.\u00a0<\/p>\n<p>Hyblock analysts said that,<\/p>\n<blockquote><p>\u201cLong exposure now sits near 62%, a level where retail traders have historically been vulnerable to getting trapped. Over the last three months, backtested 15-minute data shows that when retail long positioning was above 62%, BTC posted positive returns 82% of the time seven days later, with a median forward return of 3.6% across 1,459 occurrences.\u201d<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-159.jpeg\" alt=\"\" width=\"896\" height=\"816\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-159.jpeg\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p><em>\u00a0True retail longs and shorts accounts&#8217; 7-day future price change %. Source: Hyblock\u00a0<\/em><\/p>\n<p><em><strong>Related: <\/strong><\/em><em><strong>Bitcoin miner inflows to Binance soar as BTC struggles to hold uptrend: Is $70K next?<\/strong><\/em><\/p>\n<h2><strong>ETF outflows, negative Coinbase premium counters spot and perp traders\u2019 efforts<\/strong><\/h2>\n<p>According to Bitfinex analysts, Bitcoin investors are \u201ccautious heading into Thursday\u2019s (May 29) Personal Consumption Expenditures (PCE) report for April.\u201d\u00a0<\/p>\n<p>The analysts said,\u00a0<\/p>\n<blockquote><p>\u201cSince 15 May, futures open interest (OI) has fallen sharply following a price correction that has seen BTC fall over 10 percent from recent highs above $82,000. Bitcoin\u2019s aggregated global OI has now dropped back below $55 billion, the lowest reading since 11 April, and is down 14 percent from when BTC was trading above $80,000.\u201d\u00a0<\/p><\/blockquote>\n<p>On Wednesday, outflows from spot Bitcoin ETFs topped $200 million, while cumulative outflows over the past 7 days exceeded $1.5 billion. In addition to the reversal in ETF flows, Bitfinex pointed to the negative Coinbase premium as a \u201csignificant warning sign.\u201d\u00a0<\/p>\n<p>&nbsp;<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1085.png\" alt=\"\" width=\"896\" height=\"341\" data-original=\"https:\/\/s3-images.ctmedia.io\/media\/content\/pasted-image-1085.png\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p><em>Spot Bitcoin ETF weekly flows. Source: <\/em><em>SoSoValue.com<\/em><\/p>\n<p>\u201cIn the post-ETF landscape, this reflects a structural reality: direct US spot demand on Coinbase has been largely displaced by indirect institutional demand via ETFs, structured products, and over-the-counter desks.\u201d<\/p>\n<p>The analysts noted that even while Bitcoin price is \u201cin an uptrend on the lower timeframes since the breakout\u201d from $72,000, \u201cthe continuation set-up is absent.\u201d\u00a0<\/p>\n<blockquote><p>\u201cA strong uptrend is typically driven via the spot tape, which would mean persistent negative funding rates and a persistent positive Coinbase premium. The opposite is the case at present.\u201d\u00a0<\/p><\/blockquote>\n<p>*********************************<\/p>\n<p>If one of the paying programs on our Monitor appeals to you, please support <em>EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n<p>EN web <strong>Support Chat<\/strong> | Hyips and Crypto questions \u2013 <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"http:\/\/emilynews.com\/chat\/hyips\/\">HyipChatEN<\/a><\/strong><\/p>\n<p>Telegram Chat for Crypto and Hyip reports: <strong><a href=\"https:\/\/telegram.me\/HyipChatEN\" target=\"_blank\" rel=\"noopener noreferrer\">@HyipChatEN<\/a><\/strong><\/p>\n<p>*********************************<\/p>\n<p>Be the first to get most important HYIP news everyday!<br \/>\nSimply Follow <a href=\"https:\/\/www.facebook.com\/EmilyNewsOnline\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline;\">EN Facebook<\/strong><\/a>, <a href=\"https:\/\/telegram.me\/CryptoHyipsEN\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"color: #c03939; text-decoration: underline;\">EN Telegram<\/strong><\/a>, <a href=\"https:\/\/twitter.com\/EmilyHyipNews\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline; font-size: 1.3em;\">EN Twitter<\/strong><\/a><br \/>\nor Subscribe to <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"https:\/\/feedburner.google.com\/fb\/a\/mailverify?uri=Emilynews\" target=\"_blank\" rel=\"noopener noreferrer\">EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n<p>If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n<p><a href=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2020\/11\/Reminder2-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13137\" src=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2025\/02\/Reminder2-1.jpg\" alt=\"\" width=\"544\" height=\"600\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin dropped closer to a critical support level as spot and long futures traders\u2019 efforts to hold $75,000 failed.\u00a0 Bitcoin\u2019s (BTC) rising funding rate and aggregated open interest suggest bullish investors are opening longs in &hellip; <a title=\"Bitcoin dropped &#8211; Is sub-$70,000 BTC next?\" class=\"exalt-read-more\" href=\"https:\/\/emilynews.com\/blog\/?p=59786\"><span class=\"screen-reader-text\">Bitcoin dropped &#8211; Is sub-$70,000 BTC next?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":59788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-59786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin dropped - Is sub-$70,000 BTC next? 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