Bitcoin (BTC) held below $78,000 on Monday as U.S.-Iran deal speculation threatened a volatile open across holiday-thinned markets
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The market tension followed $1.26 billion in net outflows from spot bitcoin exchange-traded funds the week of May 18–22, their second consecutive billion-dollar redemption week, even as BTC briefly cleared $82,000, The Block reported.
Key facts
While spot BTC products logged redemptions, XRP (XRP) ETFs attracted $22 million, Solana (SOL) ETFs added $16 million, and newly launched Hyperliquid (HYPE) ETFs pulled in $72 million during the same
The market tension followed $1.26 billion in net outflows from spot bitcoin exchange-traded funds the week of May 18–22, their second consecutive billion-dollar redemption week, even as BTC briefly
Bitcoin had previously found its footing mid-week after Strategy disclosed a purchase of roughly 25,000 BTC for $2 billion between May 11 and May 17, stabilizing the price after an earlier
Bitcoin (BTC) held below $78,000 on Monday as U.S.-Iran deal speculation threatened a volatile open across holiday-thinned markets, The Block's price page shows
Summary
Bitcoin (BTC) held below $78,000 on Monday as U.S.-Iran deal speculation threatened a volatile open across holiday-thinned markets, The Block's price page shows. Bitcoin had previously found its footing mid-week after Strategy disclosed a purchase of roughly 25,000 BTC for $2 billion between May 11 and May 17, stabilizing the price after an earlier geopolitically driven sell-off, Laser Digital wrote. Timothy Misir, head of research at BRN, argued that tepid prices amid surging institutional outflows carries more weight than the headline rally. While spot BTC products logged redemptions, XRP (XRP) ETFs attracted $22 million, Solana (SOL) ETFs added $16 million, and newly launched Hyperliquid (HYPE) ETFs pulled in $72 million during the same window that Ethereum (ETH) ETFs shed $216 million, according to BRN.