Bitcoin Price News: BTC at Risk of Falling to $70K as Crypto Veteran Calls for 50‑60K in Coming Months
Bitcoin price dipped below 75,000 today for the first time since May 23, when the 74,000-74,200 zone acted as strong support. Price briefly touched 74,000 and bounced, now trading near $74,500.
The move lower came from multiple catalysts: rising Middle East tensions, a massive dark pool sale of Bitcoin ETF shares, and new regulatory signals from China.
Let’s break down each factor, understand why Bitcoin and crypto are down today, and then look at Doctor Profit’s latest short call.
What you'll learn 👉
Geopolitical Tensions – Oil Spikes, Rate Cut Hopes Fade
Reports of new U.S. military strikes near the Strait of Hormuz and Iranian threats of retaliation escalated Middle East tensions. Oil prices jumped, reviving fears of persistent inflation.
Markets now expect the Federal Reserve to delay rate cuts. For Bitcoin, which acts as a risk asset, this is a headwind.
Higher oil prices and tighter monetary expectations reduce liquidity appetite. The correlation with traditional markets is clear: when geopolitics flare, the BTC price drops alongside stocks.
Dark Pool Sale and ETF Outflows – The Flash Crash Catalyst
An unknown trader sold 29.2 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth 1.289 billion via a dark pool at 10:30 a.m. ET on May 26, according to Bloomberg.
This unprecedented block trade coincided with Bitcoin’s initial flash crash. SoSoValue data shows total net ETF outflows of 333.6 million that day.
The dark pool sale may have been a large institutional exit or a hedged position unwind. Regardless, it added significant selling pressure at a time when liquidity was already thin.
China’s New Crypto Regulations – Another Headwind
China’s Supreme People’s Court is preparing fresh judicial regulations to handle disputes involving virtual currencies and cross-border finance. This initiative follows high-profile cases like the $15 billion Bitcoin seizure linked to the Chen Zhi “pig butchering” scam.
The new rules aim to update legal interpretations for insider trading and market manipulation. The move reinforces China’s comprehensive ban on crypto activities, which began in 2013 and was fully enacted in 2021.
While the ban is not new, the tighter enforcement signals no easing of pressure from Beijing.
Doctor Profit’s Tweet and Chart Analysis – Short Zone Delivered
Doctor Profit tweeted on May 27:
“$BTC: Once again my short area delivered perfectly, 79-82k activated exactly as planned while the crowd screamed for higher and longed above 80k. Remaining short orders at 83-85k stay active if liquidity allows one final push. You know I am aiming for 50-60k!”
His attached weekly chart (from Binance) shows a clear structure:
- Short Entry: Labeled near the all-time high of ~$120,000 in late 2025.
- Target 1: $90,000 – reached during the decline.
- Short Orders: Placed in the 79,000-82,000 region, which he notes were “activated perfectly” as price rejected from $82.8K and fell.
- Target 2: $60,000 – his medium-term downside target.
- Target 3: 50,000 – his ultimate target, labeled as part of the “Capitulation Area” near 40-50K.
The BTC chart shows a descending channel from the 120K peak. Price has been making lower highs and lower lows.
The recent rejection from the 200-day MA near 82K and the subsequent drop below 75K validate his short thesis.
He still has remaining short orders at 83-85K in case of a final liquidity grab before the next leg down.
Bitcoin Price Predictions for June
Bullish Scenario (Unlikely but Possible)
A swift de-escalation of Iran tensions and a dovish Fed pivot could spark a relief rally. If Bitcoin reclaims 75,000 and breaks above 77,500, it could target 80,000 again.
The dark pool sale may be a one-off event. Positive CLARITY Act news could also flip sentiment.
However, given the macro backdrop, a sustained rally above 80K in June seems unlikely without a major catalyst.
Bearish Scenario (More Probable)
Continued geopolitical risk, high oil prices, and ETF outflows push Bitcoin toward 72,000. A break below 74,000 support would open 70,000.
Doctor Profit’s 60-50K targets could come into play if the Fed raises rates again or if a full-scale conflict erupts.
The structure of lower highs remains intact. Expect further downside in June, with brief bounces being sold.
Realistic Mid-Range View
Bitcoin may trade in a wide range between 70,000 and 78,000 for most of June.
The 74,000 support has held twice, but momentum is weak. Until the Iran situation clarifies and ETF outflows reverse, the path of least resistance is down.
Long-term holders should watch for a capitulation volume spike near 70-72K as a potential accumulation zone.
Short-term traders should respect the descending channel and avoid longing near resistance.
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