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- 🥺 Where Is The Bitcoin Bottom?
🥺 Where Is The Bitcoin Bottom?
Plus, why Bitcoin ETFs can't stop selling the dip.
Ivan
May 29, 2026
Happy Friday!
Bitcoin has lost $10,000 over the past three weeks and the bottom might still not be in. How much further can Bitcoin fall?
Bitcoin ETFs keep losing inventory: over $2.9 billion left the ETFs in the past 9 days alone. What is going on with institutional interest?
Plus, join Direxion on June 11 at 11:00 AM ET to discuss the market’s biggest themes shaping retail trading, including precious metals, crypto, and the ongoing momentum in technology and semiconductor stocks. Hosted on Benzinga’s platform, this live bootcamp will explore how active traders are navigating volatility, macro trends, and sector-driven opportunities using ETFs.
TOP STORY
Bitcoin has shed roughly $10,000 in weeks — falling from $83,000 to near $73,000 after rejecting almost exactly at the 200-day moving average.
Analyst Benjamin Cowen says the playbook from 2018 and 2022 puts June squarely in the crosshairs as the next key low.
The midterm-year "window of weakness" is playing out on schedule: post-halving drop, February low, March-April higher low, and now another weakness window into June before a potential July-August relief rally — followed by a final cycle low risk in September-October that traders shouldn't mistake for the bottom.
The warning for traders: don't panic sell a fresh June low…
SPONSORED CONTENT
Join Direxion for a timely discussion on some of the market’s biggest themes shaping retail trading and investing in 2026, including precious metals, crypto, and the ongoing momentum in technology and semiconductor stocks. Hosted on Benzinga’s platform, this live bootcamp will explore how active traders are navigating volatility, macro trends, and sector-driven opportunities using ETFs.
Benzinga’s Gianni Di Poce will be joined by Direxion’s Ed Egilinsky for a dynamic conversation covering gold and silver trends, the evolving crypto landscape, AI-driven semiconductor momentum, and broader tech sector opportunities. Attendees will gain insights into current market narratives, trader sentiment, and tactical ways investors are positioning around today’s most closely watched sectors.
The bootcamp will take place live on June 11 at 11:00 AM ET on Benzinga.com.
This is a paid ad. Please see 17b disclosure here for more information.
QUICK N DIRTY
XRP has not had a good year, despite continuous good news and partnerships with Ripple. Why has adoption not translated into price growth?
Mark Cuban sold his Bitcoin and Strategy’s CEO is not surprised: here’s what he had to say about Cuban’s move.
Ripple CEO Brad Garlinghouse has a clear response to Elizabeth’s Warren ‘anti-crypto army’ slogan: it’s been defeated and it’s not coming back.
FINTECH FOCUS
Spot Bitcoin ETFs logged nine consecutive days of outflows, the longest withdrawal streak since launch in January 2024.
BlackRock's IBIT posted its largest single-day outflow since launch earlier this week, and the selling isn't just Bitcoin-specific.
Institutions appear to be rotating into AI stocks and semiconductor names that have posted stronger returns as infrastructure spending accelerates.
The contrarian read comes from Glassnode: the 14-day moving average of ETF flows has bottomed near significant price turning points before, flagging both the February $60,000 low and November's $85,000 pullback before recoveries followed.
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