Bitcoin pulled back to $72K in May as ETF outflows hit $1B, but holders added 125K BTC near historical valuation lows.

Bitcoin fell toward $72,000 as U.S. spot ETFs posted weekly outflows again amid Iran risk-off and weak whale demand.

Bitwise analysts say rising sovereign debt levels and bond-market stress may benefit Bitcoin in the long term, with one valuation model suggesting a fair value near $224,000.