Bitcoin fell to its lowest level in over a month as investors reacted to economic uncertainty and geopolitical tensions.
US spot-Bitcoin ETFs have seen billions in outflows, while Ethereum ETFs recorded 11 straight days of withdrawals.
Analysts warned that technical indicators point to a possible deeper correction in the crypto market.
Bitcoin fell to its lowest level in more than a month as investors weighed concerns over the global economic outlook and continued outflows from US exchange-traded funds (ETFs), Bloomberg reported.
The world’s largest cryptocurrency declined nearly 1.5% to ₹74,017 in Singapore on Thursday, marking its lowest level since April 20. Ether, the second-largest cryptocurrency, fell more than 2%.
1 May 2026
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Iran-US War Sparks Concerns
Despite ongoing negotiations, the Iran-US conflict has not resulted in a concrete ceasefire. The war, now entering its third month, has already disrupted global energy markets and heightened recession fears.
Investors are increasingly concerned that a prolonged conflict could fuel inflation, forcing the US Federal Reserve to raise interest rates further.
According to Bloomberg, analysts said the stronger US dollar and higher Treasury yields have tightened financial conditions in the United States. The report added that US spot-Bitcoin ETFs have recorded net outflows of $1.5 billion so far in May.
Bitcoin Faces Renewed Pressure
Analysts warned that Bitcoin remains under pressure and could be headed for a sharp correction toward ₹52,000. Reports said technical indicators associated with trend reversals have appeared on charts, raising fears of a significant near-term decline in the crypto market.
Data cited in reports showed that spot Bitcoin ETFs recorded outflows of $733 million on Wednesday, marking the largest single-day withdrawal in months.
Ethereum ETFs also saw more than $67 million in outflows the same day, extending their streak to 11 consecutive days of withdrawals. On a monthly basis, Ethereum ETFs have seen outflows totaling $401 million.
“Bitcoin price action could turn into a bloodbath quickly,” Forbes reported, citing a widely followed crypto analyst on X. “The last time Bitcoin was rejected from the upper side of this bear flag, it plunged nearly 40% in 23 days.”
The broader crypto market selloff has pushed Bitcoin closer to the ₹40,000 level, a price not seen since Donald Trump returned to the White House for a second term.
The correction also comes amid renewed scrutiny of Trump’s earlier promise to make the US the global capital of cryptocurrency.
