President Trump claims that Gary Gensler, when leading the SEC, and others critical of cryptocurrency almost forced the crypto industry to move operations outside of the United States. He stated on his social media platform, Truth Social, that his actions were what ultimately prevented this from happening.
He stated that the U.S. has become the global center for cryptocurrency, attracting developers and business owners back to the country.
As president, I will create lasting rules for the digital asset market, ensuring its success even if opponents try to stop it. We’re building the future of finance right here in America, and I promise to always support cryptocurrency.
He also stated that while the U.S. is currently leading the world in cryptocurrency, other nations are actively working to take over that position. He emphasized the importance of defending this significant industry and preventing that from happening.
BTC at Six-week Low, ETH Under $2K
Typically, remarks like these from a global leader would have led to a market recovery.
This is a particularly harsh market downturn, and things actually got worse, falling nearly 3% and losing over $80 billion in value.
In the last day, my research at Coinglass shows a significant downturn in the market. We saw roughly 165,000 traders forced to close their positions – what we call liquidations – totaling around $928 million. Interestingly, the vast majority – 93% – of these liquidations were from traders who bet that prices would go up, or ‘long’ positions.
Things took a bit of a dip in the crypto market today. Bitcoin dropped around 3.2%, landing around $72,800 – that’s the lowest I’ve seen it since mid-April. Honestly, it’s down about 8% in the last two weeks, and it feels like we might be heading back towards the $60,000 range soon. It’s a bit concerning, but I’m staying calm and watching how things unfold.
BREAKING: Bitcoin dumped -$1600 and dropped below $73,000 in the last 60 MINUTES.
Over $480 MILLION longs in were liquidated.
— Bull Theory (@BullTheoryio) May 28, 2026
Ethereum‘s price dropped below $2,000, falling over 4% to $1,975 – a level it hasn’t reached since late March. Most other cryptocurrencies also saw significant price declines, continuing the recent trend as the market remains in a downturn.
According to Santiment, the recent price drop of Ethereum has led to many individual investors seeing it as a buying opportunity.
This usually suggests the price could drop a little more, as most investors tend to be overly optimistic and often make incorrect predictions.
US Strikes on Iran Resume
Stock markets fell further after the United States conducted new military strikes against Iran late Wednesday.
Reuters reports that strikes hit an Iranian military location, and the US destroyed four Iranian drones near the Strait of Hormuz after they were identified as a potential threat.
According to an official, the actions taken were carefully calculated responses meant only to protect the existing ceasefire. However, Iran responded to these actions by attacking a US military base in Kuwait.
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2026-05-28 09:23