Bitcoin has fallen to a new monthly low of $74,305, its lowest price since April 20, as Ethereum slipped to the psychologically critical $2,000 level during a broad weekend selloff that wiped billions from the crypto market.
Bitcoin Slides 10% From May Peak as ETF Outflows Accelerate
Bitcoin dropped to $74,305 on May 23, roughly $8,000 lower than where it traded less than 10 days earlier. The move represents a roughly 10% decline from its May 6 peak of $82,500 and leaves BTC approximately 40.7% below its all-time high of $126,080 set in October 2025.
Bitcoin hits monthly low — BTC dropped to its lowest level in 30 days, down roughly $8,000 in under 10 days, with market cap slipping below $1.5 trillion.
Source: CoinGecko
Bitcoin’s market cap fell below $1.5 trillion, while BTC dominance retreated slightly to 58.07%. The total crypto market cap sits at approximately $2.58 trillion, a pattern consistent with the factors driving Bitcoin toward the $75K level that analysts flagged earlier this month.
Ethereum dipped to the $2,000 level before recovering slightly to around $2,025. ETH has shed 12.2% over the past 30 days, significantly underperforming Bitcoin on a relative basis, with the ETH/BTC ratio sitting at a 10-month low of 0.02835.
Ethereum tests $2,000 support — ETH briefly dipped to the psychologically key $2,000 level, extending a 12.2% monthly decline as broad altcoin selling pressure mounted.
Source: CoinGecko
Bloomberg ETF analyst James Seyffart noted that Ethereum ETF holders are sitting in a worse position than their Bitcoin ETF counterparts, with many carrying losses exceeding 50% as ETH trades well below its August 2025 all-time high of $4,946.
According to unconfirmed reports, altcoins fared even worse: BNB fell to $640, XRP struggled to hold above $1.30, and SOL dropped over 6% during the weekend session.
Spot ETF Outflows and Macro Pressure Behind the Drop
The selloff was driven by sustained institutional retreat. U.S. spot Bitcoin ETFs recorded $2.26 billion in outflows over two consecutive weeks, with the week of May 19 alone seeing $1.26 billion exit, the largest single-week outflow since January.
Rising U.S. Treasury yields and broader macro uncertainty have weighed on risk assets. Bitcoin has now declined for four consecutive months, a streak not seen since the pandemic era. The Fear & Greed Index dropped to 28, firmly in “Fear” territory.
Weekend trading conditions amplified the move, as thinner order books allowed relatively smaller sell orders to push prices further than they might during weekday sessions. The institutional dynamics recall the kind of billion-dollar restructuring pressures that have shaped crypto markets in recent months.
$2,000 ETH and $74K BTC: The Levels That Matter Next Week
For Bitcoin, the $74,000 area now serves as immediate support. A sustained break below could open the door to retesting April lows. On the upside, reclaiming $76,000 would be significant; Fundstrat’s Tom Lee previously identified that level as a pivotal monthly close threshold.
For Ethereum, $2,000 is the line in the sand. A weekly close below that round number could trigger further liquidations, particularly among leveraged long positions. ETH’s 30-day decline of 12.2% already far exceeds Bitcoin’s 3.4% drop over the same period.
As weekday liquidity returns, traders will be watching U.S. economic data releases and Treasury yield movements for directional cues. The ETF outflow trend, combined with approaching June liquidity events, could determine whether this selloff finds a floor or extends into a deeper correction.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
