Bitcoin dropped below $75,000 on May 23 for the first time since mid-April, sparking nearly $1 billion in liquidations across crypto markets. The decline followed more than $2 billion in outflows from U.S. spot Bitcoin ETFs over two weeks.
Bitcoin traded as low as $74,255 after falling more than 3 percent in 24 hours. Ethereum declined about 5 percent to roughly $2,065, while other assets including Solana and Dogecoin also moved lower. The sell-off erased gains from an earlier attempt to hold above $77,000.
