Bitcoin Reclaims $74,000 Amid Easing Iran Tensions

Bitcoin has recovered to $74,000 on May 29 after plunging below that level and falling to the 13th-largest global asset amid heavy ETF outflows and Iran-related risk-off flows. The move caps a sharp correction from the May 14 peak near $82,000 that saw successive breaks of $80,000, $77,000 and $75,000, triggering roughly $400 million in long liquidations and over $1 billion in spot-Bitcoin ETF redemptions. Renewed geopolitical de-escalation hopes and regulatory progress on U.S. crypto futures have supported the latest rebound, though persistent ETF outflows continue to weigh on sentiment.