Bitunix Analyst: BTC Breaks Below $74,000 — Crypto Enters Leverage Shakeout Phase

May 28 — Markets remain fixed on two core concerns: renewed inflation pressures and prolonged geopolitical unrest. Federal Reserve Governor Cook has stated she would support further interest rate hikes if inflation fails to cool as projected, signaling growing internal acceptance within the Fed for a “higher for longer” rate policy stance. From energy prices to AI-related capital expenditures to global supply chain costs, investors are increasingly worried a new wave of reflation is taking shape. Turning to the Middle East: While diplomatic talks drag on, military conflict has not eased. U.S. forces have again targeted Iran-linked military sites, and standoffs between drones and commercial shipping persist around the Strait of Hormuz. Former President Trump has reiterated he will not ease sanctions on Iran, nor allow Tehran to gain control of the strategic waterway. That means even as some in the market hold out hope for a near-term ceasefire, energy supply chains and global shipping lanes remain highly vulnerable. On the equity front: Investor capital continues flowing into AI and semiconductor stocks. SK Hynix’s market cap has crossed the $1 trillion threshold, and TSMC is reportedly raising prices for its 3nm chip nodes — clear signs that AI demand is pushing up pricing and capital spending across the tech supply chain. But there’s a critical flip side to this boom: the AI revolution itself is driving up global costs for equipment, energy, and infrastructure, making inflation stickier than expected. In crypto: Bitcoin has formally fallen below $74,000, marking the start of an active leverage de-risking phase. Liquidity heatmaps show significant resistance at key short-term levels: $75,800 and $77,800. If support near $70,000 fails to hold, the market may head lower to find a new price equilibrium. Against the backdrop of a hawkish Fed, rising geopolitical risk, and tightening global liquidity, crypto markets remain heavily swayed by macroeconomic trends and high-impact risk events.