Bitcoin slipped 1.9% to $75,912.3, breaking below the $77,000 threshold after U.S. defensive strikes on Iranian vessels in the Strait of Hormuz and reduced optimism for a near‑term peace deal.
U.S. spot Bitcoin exchange‑traded funds recorded a net outflow of $105.19 million on 22 May, marking the sixth consecutive day of outflows and a cumulative $1.55 billion withdrawn (~1.6% of total ETF assets).
Major altcoins mirrored the decline: Ethereum fell 1.7% to $2,074.59, XRP 1.7% to $1.3312, Solana 1.8%, Cardano 1.7%, and Dogecoin 1.3%.
Analysts highlighted that elevated Treasury yields and expectations of further Federal Reserve rate hikes are adding pressure to crypto markets.
Market participants will focus on Thursday’s April personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, for clues on future monetary policy.
The geopolitical tension also kept oil prices mixed, contributing to broader market uncertainty.
