Bitcoin enters danger zone as investors await new direction

Bitcoin ( BTC ) has come under pressure in recent days, with the world’s largest cryptocurrency by market capitalisation weakening and approaching a crucial support level that could determine future direction. data from NewsBTC on Thursday (28 May 2026) showed Bitcoin briefly fell below $75,500 and remained in negative territory amid increased selling pressure in the global crypto market.

amid this pressure, global investors have shifted their attention to technology stocks, especially memory chip producers based on artificial intelligence. the movement of capital into the tech sector is said to be affecting investor interest in crypto assets, including Bitcoin.

CoinDesk reported that Bitcoin remained under pressure as shares of South Korean semiconductor company SK Hynix surged and crossed a $1 trillion valuation. memory chip stocks have attracted global investor attention and capital flows, while the crypto market has stagnated and lost momentum.

this comes as Bitcoin failed to hold above $76,000. continuous selling pressure has pushed BTC prices lower, nearing the critical support range of $74,000 to $75,000.

BTC is also trading below the 100-hour simple moving average, indicating a short-term bearish trend. it is seen as consolidating and may struggles to maintain above the $74,000 support level.

selling pressure is not limited to Bitcoin; other major crypto assets such as Solana and XRP have also weaken as selling intensifies in the market.