Bitcoin drops to 75,500! ETH falls below 2,100! The Dow hits a record high, but crypto is weakening alone

Bitcoin drops to $75,526 (−2.76%), Ethereum falls to $2,068 (−3.26%), both hitting nearly 14-day lows. The Fear and Greed Index remains at 28 (fear) for two consecutive days, while the US stock Dow Jones Industrial Average hits a record high of 50,579 points on the same day, continuing the widening divergence between the stock market and crypto assets.
(Background recap: Boom! Bitcoin breaks below $75k, Ethereum loses $2,200, nearly $200 million in liquidations across the network within 4 hours)
(Additional context: Bankless co-founder liquidates all ETH, team layoffs without a word of thanks: they call this the "Second Era")

Bitcoin has continued to weaken over the past 12 hours, sliding from last night’s $77,900 down to a 14-day low of $75,220 this morning at 09:00, currently around $75,526, a 24-hour decline of 2.76%. Ethereum is under pressure as well, dropping from $2,141 to a low of $2,053, also hitting a near two-week low, now around $2,068, down 3.26%.

Both major cryptocurrencies have retreated approximately 8% and 12.8% respectively from their recent highs on May 11 (BTC $82,145, ETH $2,373), with the downtrend continuing for nearly two weeks.

Crypto divergence intensifies

The weakness in the crypto market contrasts sharply with the strength of the US stock market.

On May 22, the US stock market closed with the Dow up 0.58% at 50,579 points, hitting a new all-time high again.

The S&P 500 rose 0.37% to 7,473 points, marking the eighth consecutive week of gains.

Nasdaq increased slightly by 0.19% to 26,343 points.

The core of this divergence lies in: US stocks benefiting from falling 10-year Treasury yields and positive corporate earnings reports, with capital continuing to flow into large-cap stocks. Meanwhile, the crypto market is being hit from multiple angles by inflation data (PPI exceeded expectations on 5/13), US-Iran geopolitical tensions, and liquidation pressures from bullish traders. In the past 24 hours alone, BTC long positions have been liquidated for about $183 million.

Stock investors are focusing on “yields coming down,” while crypto markets are still digesting “inflation hasn’t decreased enough.”

Fear Index remains at 28 for two days

The Crypto Fear and Greed Index has stayed at 28 for two consecutive days, in the “fear” zone. Compared to early May, when the index briefly rose above 50 to a neutral level, market sentiment has clearly cooled.

A few short-term key points to watch:

If BTC loses the $75,000 psychological level (only about 0.7% below current price), support below is at the $73,000 to $72,000 range, which was the rebound zone in mid-April. If it can stabilize above $77,000, there’s a chance to retest the $80,000 resistance.

For ETH, the $2,050 level is a recent line of defense; breaking below could trigger a rapid decline toward $1,980. Regaining above $2,200 would be the first step toward easing short-term pressure.

Next Monday is Memorial Day in the US, markets will be closed, and low liquidity could amplify volatility. The buyers are yet to appear.

This is not investment advice.