In the past 24 hours, the cryptocurrency market has declined slightly by 1.54%, mainly due to institutional funds causing trouble, especially Bitcoin players selling off heavily, coupled with an increasingly tight macroeconomic environment.

The US spot Bitcoin ETF has recently experienced a large-scale outflow of funds. As of the week ending May 17, over $1 billion has been redeemed, putting significant pressure on the market.

ETH also dropped 9.22% this week, and the entire sector appears very weak. Additionally, $661 million in liquidations have accelerated the sell-off of blockchain assets.

If Bitcoin can hold the support at $75,700, and ETF fund outflows do not accelerate further, there is still a chance for the price to replicate the previous rally and surge to new highs. But once it falls below $74,900, the previously inflowed funds could trigger panic selling. The market cap could directly drop to $2.17 trillion.

Overall, the market is a bit tight, but if the support levels hold, there is still a chance for a rebound. $BTC