Santiment said Tuesday that many retail traders have effectively given up on Ethereum, a setup it argues can increase the odds of a rebound when pessimism becomes widespread. It added that ETH social sentiment has slid into an "extreme fear zone" after months of lagging Bitcoin and other altcoins. ETH also hit an intraday low of $1,620 twice in the past 24 hours, while Glassnode reported only 11% of ETH supply is held at more than 3x profit.

Fidelity Digital Assets said Tuesday that Bitcoin remains under short-term pressure, noting the asset has stayed in a death cross for more than 200 days and briefly dipped below the 200-week moving average over the weekend. The firm highlighted a realized price of $53,600 and said longer-term indicators are beginning to shift even as near-term signals still look bearish. Bitcoin rebounded to $64,000 on Monday but slid to an intraday low of $62,500 during Asian trading Tuesday.

Bitcoin and Ether stayed weak after last week's losses, with traders looking to June 1–5 US labor and activity data for potential market-moving signals. Key releases include May ISM Manufacturing PMI (Monday), April JOLTS openings (Tuesday), May ISM Non-Manufacturing PMI (Wednesday), jobless claims (Thursday) and the May jobs report (Friday).

Bitcoin fell 3.2% to $72,800 on May 28, 2026, while Ethereum dropped more than 4.4% to $1,975, as broader crypto markets sank nearly 3% with over $80 billion erased. In the past 24 hours, about 165,000 traders were liquidated for $928 million, with 93% tied to long positions. Risk sentiment also weakened after reports of renewed US military strikes on Iran late Wednesday.

Analysts described a bullish long-term setup for Ethereum, with crypto investor DeFi Dad suggesting ETH could eventually reach around $20,000 if it follows Bitcoin's 2017-style pattern after a market bottom. However, some technicians warned the downside could come first, including a potential drop toward $1,500 if key support fails. ETH was trading below $2,100, with an intraday low of $2,060 and nearly 10% lost over the past two weeks.

Bitcoin retreated below $76,500 on Tuesday morning after rising to an intraday high of $77,700 on Monday. The pullback followed reports that the US resumed strikes in Southern Iran, while analysts pointed to $70,000 as a key support zone if geopolitical tension persists.

Crypto prices were largely steady over the past 24 hours after a weekend bounce tied to comments from US President Donald Trump about a potentially "largely negotiated" Iran deal. The week of May 25–29 features major US inflation and growth releases, including May consumer confidence, April PCE, and Q1 2026 GDP, alongside data such as new home sales and jobless claims. Bitcoin dipped to $76,000 late Sunday and later rebounded above $77,000, while Ether slipped below $2,100 as altcoins stayed mostly flat.

About 20,500 Bitcoin options are due to expire on Friday, May 22, representing roughly $1.5 billion in notional value. The batch carries a 0.69 put/call ratio and a max-pain level near $79,000, while broader crypto market cap slipped to $2.67 trillion and BTC dipped to an intraday low of $76,750 after failing at $78,000.

Analysts said Bitcoin's failure to clear its 200-day moving average has started to resemble prior reversal setups, raising the risk of a deeper pullback. They highlighted $70,000 as a key on-chain support level, warning that a break could drag BTC back into the $60k zone and potentially to fresh bear-market lows. BTC also tested $78,000 during Thursday's Asian session after rising about 1.7% from $76,600, but that area was described as near-term resistance.