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\n\t\t\t\t\t\t\t\t\tCrypto markets have tanked to their lowest levels in six weeks after the US President said he saved it.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Former SEC chair Gary Gensler and the \u201canti-crypto army\u201d nearly destroyed the American crypto industry by driving Bitcoin, crypto perpetuals, and innovation offshore, but \u201cTrump saved it,\u201d the president said on Truth Social on Wednesday.<\/p>\n
\u201cAmerica is now the crypto capital of the world, and builders and entrepreneurs are coming back to the United States where they belong,\u201d he added<\/a>.<\/p>\n \u201cUnder my leadership, we will codify a future-proof digital asset market structure that cannot be undone by the crypto haters. The new frontier of finance is being built in America, and Trump will never let crypto down!\u201d<\/p>\n In a separate post, he said<\/a>, \u201cwhere we are currently the crypto capital of the world, other countries are trying diligently to replace us in that capacity, but we won\u2019t let that happen. It is a major industry, and we must protect it.\u201d<\/p>\n Under normal market conditions, such comments from a world leader would have caused markets to bounce.<\/p>\n But this is a brutal bear market, and they did the opposite, tanking almost 3% with more than $80 billion wiped out.<\/p>\n Over the past 24 hours, around 165,000 traders were liquidated, with total liquidations coming in at $928 million, 93% of which were long positions, according<\/a> to Coinglass.<\/p>\n Bitcoin tanked 3.2%, falling to $72,800, its lowest level since mid-April. The asset has now lost 8% over the past fortnight and is heading back into the $60,000 zone.<\/p>\n BREAKING: Bitcoin dumped -$1600 and dropped below $73,000 in the last 60 MINUTES.<\/p>\n Over $480 MILLION longs in were liquidated. pic.twitter.com\/cfZajGkauN<\/a><\/p>\n \u2014 Bull Theory (@BullTheoryio) May 28, 2026<\/a><\/p>\n<\/blockquote>\n Meanwhile, Ethereum dumped below the psychological $2,000 level, falling more than 4.4% to $1,975, its lowest level since the end of March. The altcoins were a sea of red, and the crypto exodus<\/a> continued as the bear market deepened.<\/p>\n \u201cRetail has erupted with \u2018buy the dip\u2019 calls toward ETH as a result of this drop below a key psychological support level,\u201d reported<\/a> Santiment.<\/p>\n \u201cThis typically means the price may have a bit further to fall, due to the crowd (which usually gets calls wrong) being too optimistic.\u201d<\/p>\n Markets were further pressured when the US launched a fresh wave of military strikes on Iran late on Wednesday.<\/p>\n Strikes targeted \u200can Iranian military site while the US shot down four Iranian drones, which posed a threat around the Strait of Hormuz, according<\/a> to Reuters.<\/p>\n \u201cThese actions were measured, \u200cpurely \u2060defensive, and intended to maintain the ceasefire,\u201d an official told the outlet. Meanwhile, Iran retaliated by attacking a US base in Kuwait.<\/p>\n<\/blockquote>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n <\/p><\/div>\nBTC at Six-week Low, ETH Under $2K<\/h2>\n
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US Strikes on Iran Resume<\/h2>\n
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