Bitcoin (BTC) and Ethereum (ETH) have seen significant price declines, reaching their lowest levels in over two months. As of May 28, Bitcoin dropped below $72,700, while Ethereum fell to $1,970. This downturn has led to substantial losses for crypto traders, with estimates exceeding $900 million in the last 24 hours alone. The price drop was particularly sharp, with BTC and ETH falling over 4.5% and 5.5% respectively from the previous day's highs. The market turmoil has resulted in the liquidation of more than 165,000 trader positions, totaling over $930 million, primarily from long positions. The decline is attributed to ongoing geopolitical tensions, particularly the U.S.-Iran conflict, which has heightened market volatility. Additionally, Bitcoin ETFs experienced net outflows of approximately $1.5 billion in May, further pressuring prices. Analysts suggest that the current geopolitical climate and inflation concerns are creating a challenging environment for Bitcoin to maintain its value above critical psychological levels.