BlockBeats News, May 27th. During the Asian session on Tuesday, Bitcoin briefly dropped to around $75,500, showing a significant deviation from the continuously hitting new highs in the global stock market. Analysts are currently closely watching the potential formation of a "Golden Cross" pattern on the BTC chart, where the 50-day moving average is on the verge of crossing above the 200-day moving average. If BTC successfully breaks through the key moving average resistance before the cross is formed, it may reopen the uptrend momentum; otherwise, it could continue to consolidate in a downtrend.

In terms of fund flows, the US physically-backed Bitcoin ETF has seen outflows of approximately $1.74 billion over the past two weeks, while retail leveraged positions continue to increase. The market is concerned that a further pullback in prices could trigger a massive cascade of liquidations.

As for other major coins, XRP, ETH, and SOL experienced slight declines, with ZEC plunging 9% in a single day. HYPE, on the other hand, surged against the trend by 1.4%, approaching Dogecoin in market capitalization. Analysts also pointed out that whether ETH can break through the key resistance level of $2,400 will be a crucial signal determining the next direction of the crypto market.