The digital financial market and Bitcoin over the past 24 hours (as of the morning of May 31, 2026) are experiencing a tense transition period as May draws to a close. The previous widespread sell-off pressure pushed the market into a defensive state, forcing Bitcoin to establish a new price base much lower than expected at the beginning of the month.

1. Bitcoin (BTC) Price Movement: Sideways consolidation after a sharp drop
After experiencing a series of sharp declines and at times breaking through key support levels, Bitcoin is now trying to stabilize market sentiment over the weekend.
Current price: This morning, May 31, Bitcoin is trading around $73,580, recording a slight increase of approximately 0.2% in the past 24 hours.
Looking back at the past week: The market just witnessed a fierce sell-off as BTC dropped approximately 3% in 7 days, even touching its lowest level in 7 weeks at $72,000 - $72,600.
Liquidation situation: The collapse of the short-term upward trend from the middle of the week triggered a wave of forced deleveraging. As a result, more than $1.5 to $2 billion worth of long positions (buy positions) held by highly leveraged traders have been liquidated since May 25th.
2. Macroeconomic Factors and Pressures on the Market
The digital financial market could not remain unaffected by geopolitical fluctuations and changes in traditional capital flows last week:
US-Iran Geopolitical Tensions: Despite hopeful signs of a ceasefire, unresolved geopolitical risks in the Middle East continue to trigger risk-off sentiment among major financial institutions.
Cooling ETF Inflows: The main growth driver for crypto in 2026 is temporarily losing momentum. In just the last two days of the week, US Spot Bitcoin ETFs recorded net outflows of up to $1.07 billion, directly weakening support at high price levels.
Selling behavior from miners: Public Bitcoin mining companies and some technology corporations (such as Sequans Communications) have announced restructuring plans and reduced their Bitcoin holdings to realize profits, creating additional supply pressure on the spot market.
Expert perspective: CryptoQuant founder Ki Young Ju warns that the current profit-taking cycle in the market has actually begun quietly since October 2025. Technically, the market may need a prolonged period of sideways consolidation before unrealized profits are rebuilt, ready for another explosive cycle.
3. Short-term strategic assessment: Bitcoin and the digital finance market are temporarily establishing a short-term bottom around $72,000 - $73,000. With recurring options contracts nearing expiration and the market preparing to enter a new monthly candle (June), the general sentiment among "whales" remains "wait-and-see."
If Bitcoin holds above the $72,500 support level for the next few sessions, a U-shaped consolidation scenario will form. Conversely, if the pressure from ETF withdrawals continues into the new week, a deeper liquid sweep towards the $70,000 level is entirely possible.
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