TLDR
- Bitcoin is trading near $76,800 after falling for four straight sessions
- Iran launched the “Hormuz Safe” program, charging ships $2 million in BTC to cross the Strait of Hormuz
- Over $600 million in leveraged long positions were liquidated in a single trading session
- CoinShares reported $1.07 billion in weekly outflows from crypto investment products, ending a six-week streak
- Analyst Daan Crypto Trades warns BTC must break above low $80Ks to avoid confirming another lower high
Bitcoin (BTC) is holding just below $77,000 on Tuesday, May 19, after four consecutive days of losses. The price stood at $76,818 at the time of writing, down 0.1% on the day.
The token had climbed above $82,000 last week, supported by strong ETF inflows. That momentum has since reversed.
Oil prices are trading above $100 a barrel after rising sharply due to supply concerns tied to the Middle East. Higher energy costs have raised fears of sticky inflation, which could keep interest rates elevated and reduce appetite for riskier assets like crypto.
U.S. 10-year Treasury yields are hovering around 4.44%, reflecting those inflation concerns.
Iran’s Bitcoin Transit System Shakes Markets
On Monday, Iran reportedly launched a new payment system called “Hormuz Safe.” Under the program, ships crossing the Strait of Hormuz must pay $2 million in Bitcoin per transit.
A new Strait Authority would manage the passage. Around 20% of global oil traffic moves through the strait daily.
The move is seen as an attempt by Iran to bypass Western banking systems and sanctions. It came as nuclear talks between the U.S. and Iran remain unresolved.
Crypto analyst Daan Crypto Trades posted that BTC was “rejected further from the horizontal and Daily 200MA/EMA retest,” adding that the low $80Ks is the key level BTC must break through for a move higher. He warned that without that break, this is “just another lower high in this downtrend that started last year.”
$BTC Rejected further from the horizontal and Daily 200MA/EMA retest.
As mentioned before, the low $80Ks region is the level BTC needs to break through for continuation higher. Otherwise this is just another lower high in this downtrend that started last year. pic.twitter.com/90YpQiQbYg
— Daan Crypto Trades (@DaanCrypto) May 18, 2026
Meanwhile, Santiment noted that bearish BTC comments on social media outpaced bullish ones for the first time since April 21. The firm said this kind of retail pessimism has historically preceded price rebounds.
📉 Bitcoin has declined back to $76.0K Monday, leading to widespread FUD across social media. Our data indicates there are more bearish $BTC comments than bullish for the first time since April 21st.
👍 Since crypto historically moves opposite to the crowd’s expectations, this… pic.twitter.com/WTn5TUjFg1
— Santiment Intelligence (@SantimentData) May 18, 2026
Institutional Outflows Add Pressure
CoinShares reported $1.07 billion in weekly outflows from crypto investment products, ending a six-week run of inflows. Bitcoin products saw $982 million in redemptions. Ethereum products lost $249 million.
Crypto ETF Flows — May 18 📊$BTC: -$648.6M net outflows$ETH: -$86.4M net outflows$SOL: +$2.1M net inflows
Bitcoin and Ethereum funds saw heavy exits, while Solana stayed slightly positive 🚨 pic.twitter.com/KzRgqzPcH2
— CoinCentral (@realcoincentral) May 19, 2026
XRP and Solana bucked the trend, posting positive inflows.
Over $600 million in leveraged long positions were liquidated in the prior trading session, adding to selling pressure across Bitcoin, Ethereum, and altcoins.
Key Levels to Watch
Total crypto market capitalization fell roughly 1.87% to around $2.55 trillion. BTC trading volume over 24 hours hit $40.74 billion.
Technical indicators show RSI near 32, in oversold territory. If BTC loses $76,000, the next support sits around $74,500.
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