Bitcoin slips below $75,000 amid U.S. regulatory, Fed, Iran risks

Bitcoin fell below $75,000 on Friday, logging a ninth consecutive trading-day decline and erasing recent momentum across exchanges. Price action weakened through support levels that had held since mid-April and trading dipped to roughly $74,500 in the latest session. The market recorded nearly $1 billion in liquidations over 24 hours, with about $378 million tied to Bitcoin positions, of which roughly $353 million were long positions closed by forced liquidations.

Regulatory uncertainty in Washington added immediate pressure. The CLARITY Act, a bill that would divide oversight of different types of digital assets between federal agencies, cleared a committee markup earlier this month but faces delays on the Senate floor. Lawmakers adjourned until June and the bill now competes for limited floor time against other legislative priorities. Ongoing amendment negotiations covering DeFi protections and ethics provisions, combined with a crowded calendar and only a few working weeks before the August recess, have reduced the likelihood of a quick vote.

Monetary policy developments contributed to the pullback. A Federal Reserve governor signaled he could no longer rule out interest-rate increases this year, citing persistent inflation and recent energy price moves. Futures markets raised the odds of a quarter-point hike as soon as October. Market participants also noted that the appointment of a new Fed chair could influence policy expectations and investor appetite for risk.

Geopolitical developments compounded market stress. Reports that U.S. officials are weighing additional strikes on Iran prompted concern about possible disruptions to oil supplies. Traders flagged that higher oil prices could add to inflation and complicate the Fed’s policy outlook, a sequence that market participants said would weigh on risk assets including cryptocurrencies.

Technical analysts pointed to the loss of key weekly support as a signal of weakening momentum on higher timeframes. Analyst Gran Mago wrote that Bitcoin “has lost its key level,” and flagged a potential test of the $60,000 area if current supports fail. Other technical studies noted the break below certain retracement levels as consistent with an expanding downside bias.

Not all market participants were bearish. Some traders described recent declines as buying opportunities, citing continued institutional interest and structural demand over the longer term. For now, liquidity conditions are thinner and risk management is tighter. Traders said near-term direction will depend on developments in Washington, comments from Fed officials and any escalation or de-escalation in the Middle East, as market participants monitor whether Bitcoin can stabilize above critical support or move toward lower benchmarks.