Bitcoin

BlackRock

Bitcoin’s price tumbled, losing more than 3.5% in the past 24 hours.
The move saw the cryptocurrency decline by over $2,000, resulting in elevated liquidations across derivatives positions, which currently amount to slightly less than $1 billion.
<figure class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/05/BTCUSD_2026-05-28_11-00-24-scaled.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2026/05/BTCUSD_2026-05-28_11-00-24-scaled.png" alt="BTCUSD_2026-05-28_11-00-24" width="2560" height="1090"></a>
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 Source: TradingView
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</figure>
There are a few reasons for this, so let’s have a look at the most likely ones.
<h2 id="us-resumes-strikes-on-iran">US Resumes Strikes on Iran</h2>
As&nbsp;CryptoPotato&nbsp;<a href="https://cryptopotato.com/altcoins-and-bitcoin-crash-after-donald-trump-pledged-to-save-crypto/" rel="noopener noreferrer nofollow">reported</a> earlier today, the US resumed strikes on Iran. To be precise, they targeted an Iranian military site, while the US shot down a total of four Iranian drones, which posed a threat around the Strait of Hormuz, according to available coverage.
Speaking on the matter, an official told Reuters:
<blockquote>
 “These actions were measured, purely defensive, and intended to maintain the ceasefire.”
</blockquote>
That said, there already was a retaliation on behalf of Iran, which struck a US base in Kuwait. The country’s IRGC released a statement, confirming the attack, and saying that “aggression will not go unanswered.”
Oil prices surged on the news, rising 5% and putting additional strain on the global economy, which in turn had an immediate impact on Bitcoin’s price. The latter is widely seen as a risk-on asset, meaning that geopolitical uncertainty is much more likely to negatively impact its short-term value.
<h2 id="1-3b-block-sale-on-blackrock">$1.3B Block Sale on BlackRock</h2>
Yesterday, we <a href="https://cryptopotato.com/the-reason-bitcoins-price-plunged-to-75k-blackrock/" rel="noopener noreferrer nofollow">reported</a> that someone offloaded 29 million shares of IBIT (BlackRock’s spot Bitcoin ETF). That position alone was worth a whopping $1.3 billion, officially making it the largest block trade of this kind and marking the largest single-day outflow from BTC ETFs.
Now that we have more context, it raises the question: did the entity have inside information about what’s to come?
Speculation aside, spot Bitcoin ETFs have grown to a position of importance and liquidating large portions surely have more than just an immediate impact on the price. They signal confidence (or the lack of) in the asset and a $1.3 billion block sale is surely to raise more than just a few eyebrows.
The post <a href="https://cryptopotato.com/2-reasons-bitcoin-price-crashed-below-73000-today/" rel="noopener noreferrer nofollow">2 Reasons Bitcoin Price Crashed Below $73,000 Today</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

2 Reasons Bitcoin Price Crashed Below $73,000 Today

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