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Bitcoin dips below $77K amid Iran's $2M Bitcoin toll and $1B crypto fund outflows

Market News
19 May 2026
Blockonomi
View Source
Bearish
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Bitcoin fell below $77,000 after four days of losses, pressured by Iran's new "Hormuz Safe" system requiring $2 million in Bitcoin for Strait of Hormuz passage and over $1 billion withdrawn from crypto funds last week. Rising oil prices and inflation concerns are dampening crypto demand, while technical analysis warns Bitcoin must reclaim the low $80K range to reverse its downtrend. Despite negative social sentiment, some analysts see potential for recovery as retail pessimism often precedes price rebounds.

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