Bitcoin Tests $73K as Dormant Wallets Unleash $7.6B Supply

Bitcoin slipped toward $73,000 by May 29 after eight straight days of ETF redemptions totaling $2.6 billion and a $6.25 billion options expiry. The move followed a week of intensifying institutional selling that began with BlackRock-linked outflows exceeding $1.01 billion and a $1.26 billion weekly ETF exodus. A Satoshi-era miner routed 2,650 BTC to OTC desks while long-dormant addresses moved 103,914 BTC aged 5–15 years; smaller corporate treasuries countered with 603 BTC in purchases. Rising exchange inflows, long liquidations, and weakening spot demand now test critical support near $72,000 as open interest contracts.