Summary
- Bitcoin (BTC) fell below the $74,000 mark and traded at $73,481.73.
- Ethereum (ETH) and XRP, along with other major altcoins, also traded lower.
- The decline was driven by escalating military clashes between the US and Iran, which weighed on investor sentiment.
Forecast Trend Report by Period
Bitcoin extended its losses and fell below the $74,000 mark.
As of 12:42 p.m. on May 28 in Korea, Bitcoin was trading at $73,481.73 on Binance's USDT market, down 3% from a day earlier. On Upbit's won market, it traded at 108.309 million won, down 1.13%.
Major altcoins also came under pressure. Ethereum traded at $1,985.57 on Binance's USDT market, down 4.23% from the previous day, while XRP fell 3.37% to $1.2860.
The selloff came as investor sentiment weakened amid renewed military clashes between the US and Iran.
US Central Command said on May 28 it had carried out airstrikes on Iranian military targets. A US official described the operation as "defensive" and said Washington intends to preserve the ceasefire that began last month.
US forces also shot down four Iranian suicide drones launched toward commercial vessels and struck a drone-launch unit in Bandar Abbas near the Strait of Hormuz.
Iran responded immediately. Xinhua reported that Iran's Islamic Revolutionary Guard Corps said in a statement on May 28 that it struck a US air base used in the attack after American forces hit an outlying area of Bandar Abbas.
The IRGC said it targeted the US air base in response to the attack near Bandar Abbas airport. It added that it would respond more forcefully to any further US attacks and that Washington would bear responsibility for the consequences.
