New Delhi, May 28 -- Bitcoin fell to its lowest level in more than six weeks as worries about the global economic outlook and money leaving US exchange-traded funds (ETFs) put pressure on the cryptocurrency market.

Bitcoin dropped as much as 3.3% to $72,643 in Singapore Thursday, its weakest since April 13. Second-largest token Ether fell more than 4% to $1,965, its lowest in almost two months.

Investor sentiment is being hit by concerns that the ongoing US-Iran conflict could push up inflation and force interest rates higher. At the same time, US spot Bitcoin ETFs have seen about $1.5 billion in net outflows so far in May, adding to the selling pressure.

Moreover, "The broader sentiment also remains weak due to the lack of progress on...