Bitcoin Drops to $72,739 on May 28, Prediction Markets Price 27% Odds of Sub-$70K Close

Bitcoin declined to US$72,739 on May 28, down about 3% in 24 hours and approaching the psychologically significant US$70,000 level, a six-week low. Prediction markets on whether Bitcoin closes May below US$70,000 surged to 27% odds on Myriad and 26% on Polymarket, both up roughly 240% in 24 hours.

A 24-hour liquidation cascade wiped out approximately US$924 million in crypto futures positions, with roughly US$851 million coming from long liquidations. Spot Bitcoin ETFs experienced net outflows exceeding US$1 billion over the prior two trading days.