Bitcoin is on the Verge of Locking in 3% May Losses

Bitcoin traded around $73,500 on Sunday as the month-end approached, leaving the cryptocurrency poised for roughly a 3% decline for May. Traders are watching the monthly candle close closely, with the $73,000 level singled out as the key line to defend. US stocks ended the week at new all-time highs, but easing geopolitical tensions and progress toward a US‑Iran ceasefire did not provide a lasting boost for Bitcoin.

The Kobeissi Letter noted US President Donald Trump saying he was "in no hurry" to finalize an Iran deal, and market participants expect upcoming US labor-market releases—especially the ISM Manufacturing PMI—to drive near-term volatility. On the charts, analysts pointed to a successful retest of $73,000.

Rekt Capital said a weekly close above that level would bring Bitcoin closer to confirming a "W"-shaped double-bottom breakout, while Bitwise's Andre Dragosch argued Bitcoin needs to "reprice higher" if it continues to follow growth and risk appetite. Other commentators see the macro range holding.

United States

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