Standard Chartered · Polymarket · Bitcoin · Tether · Bitcoin.com News
Youtuber Signals Bitcoin Bottom Is Not In as Stablecoin Dominance Hits Risk-off Level
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Bitcoin traded near $73,840 on May 31, 2026, stuck in a narrow band between $73,412 and $74,110 as technical indicators signaled bearish pressure and institutional players moved in opposite directions.
Key facts
- Standard Chartered is maintaining its $40,000 Ethereum price target even after ETH fell 57% from its August 2025 high
- The intraday support zone sits between $73,600 and $73,700, with $73,100 serving as the critical floor below it
- A confirmed hourly close above $74,200 would open a path toward $75,000 and then $76,000
- Bitcoin dropped sharply from roughly $78,000 into a low near $72,400, and price has been range-bound between $73,000 and $74,500 since that selloff
Summary
Tether burned $1.2 billion in 24 hours on May 31, matching a pattern that preceded Bitcoin’s drop from $90,000 to $60,000 in February 2026. Blackrock removed $2.1 billion in bitcoin over ten days while firms like Strive acquired 1,100 BTC in a single session, reflecting a split in institutional conviction. Polymarket priced an 85% chance Bitcoin reaches $70,000 before $90,000, with TradingView moving averages confirming a strong sell posture at current levels. On the 1-hour chart, bitcoin has built a series of higher lows since testing $73,100, which is a structure that hints at short-term buying interest.