Bitcoin Holds Steady at $77K Amid Trump’s Iran Deal Update
After dropping to around $74,000 on Saturday, Bitcoin’s price bounced back to $77K yesterday and seems to have settled at that level. The decision follows a statement from US President Donald Trump about the situation with Iran and the possibilities for enduring peace. However, the market seems to view it as just a continuation of the current ceasefire. Analysts have indicated that the ceasefire is likely to be extended for another 60 days.
Bitcoin is currently trading just above $77,000, showing stability on Memorial Day, with markets closed. It’s also crucial to note that spot Bitcoin ETFs faced one of their toughest weeks from May 18 to May 22, with outflows surpassing $1.2 billion. Ethereum ETFs encountered difficulties, while other offerings like SOL, XRP, and HYPE funds saw an increase in assets under management. Several altcoins have shown fairly consistent trading patterns in the past 24 hours, especially those with the largest market capitalisations. ETH remains relatively stable compared to yesterday’s figures; BNB has seen a slight increase of 0.5%, while TRX is up by 0.3%. In contrast, XRP, SOL, DOGE, and ADA have all experienced a decline of 0.3%.
One of last week’s standout performers, HYPE, seems to be losing steam after an impressive rise of over 40% in the past seven days. That being said, the altcoin continues to show considerable strength and is currently ranked as the 11th-largest project in the industry by total market capitalisation. The top gainers over the last 24 hours are soaring by 20%, climbing 15%, and rising by 9.6%. On the flipside, Uniswap’s asset has seen a decline of 2.7%, positioning it as today’s worst-performing altcoin, trailed by Kaspa and Sui.
