{"id":428636,"date":"2026-05-28T11:45:01","date_gmt":"2026-05-28T06:15:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-bears-break-75k-support-is-70k-next-crypto-news\/"},"modified":"2026-05-28T12:11:42","modified_gmt":"2026-05-28T06:41:42","slug":"bitcoin-bears-break-75k-support-is-70k-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-bears-break-75k-support-is-70k-next-crypto-news\/","title":{"rendered":"Bitcoin Bears Break $75K Support: Is $70K Next? – Crypto News"},"content":{"rendered":"

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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

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<\/span><\/a> 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

<\/figure>\n<\/p>\n

BTC\/USDT one-hour chart. Source: <\/em>Velo.xyz<\/em><\/span><\/a>\u00a0<\/em><\/p>\n

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

One important point to consider is \u201cwho\u201d is propping BTC up. Hyblock\u2019s True Retail Longs & Shorts Accounts indicator shows retail investors increasingly viewing corrections as dip-buying opportunities.\u00a0<\/p>\n

Hyblock analysts said that,<\/p>\n

\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

\"\"<\/figure>\n<\/p>\n

\u00a0True retail longs and shorts accounts’ 7-day future price change %. Source: Hyblock\u00a0<\/em><\/p>\n

Related: <\/strong><\/em>Bitcoin miner inflows to Binance soar as BTC struggles to hold uptrend: Is $70K next?<\/strong><\/em><\/span><\/a><\/p>\n

ETF outflows, negative Coinbase premium counters spot and perp traders\u2019 efforts<\/strong><\/h2>\n

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

The analysts said<\/a>,\u00a0<\/p>\n

\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

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

\"\"<\/figure>\n<\/p>\n

Spot Bitcoin ETF weekly flows. Source: <\/em>SoSoValue.com<\/em><\/span><\/a><\/p>\n

\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

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

\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<\/div>\n","protected":false},"excerpt":{"rendered":"

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. As shown in the chart below, Bitcoin open […]<\/p>\n","protected":false},"author":2,"featured_media":428638,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-428636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/428636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=428636"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/428636\/revisions"}],"predecessor-version":[{"id":428639,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/428636\/revisions\/428639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/428638"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=428636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=428636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=428636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}