The leading cryptocurrency’s price fell to levels last seen in early May.
On May 18, Bitcoin’s (BTC) price dropped to $76,583, hitting its lowest since May 1, 2026. Overall, the coin is moving in a range between $76,500 and $77,000.
Hot topic: BitMEX Co-Founder Cuts Bitcoin Price Forecast From $500K to $125K
At the time of publication, BTC▼$61,913.00 trades at approximately $76,700. Over the past 24 hours, bitcoin has lost just over 2%, and over the past week, more than 5%.
Total crypto market capitalization fell more than 2% over 24 hours to $2.6T. The Fear and Greed Index dropped to 28 points, falling into “fear” territory.
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Why Did Bitcoin Fall on May 18?
The main catalyst was escalating geopolitical tensions. President Donald Trump posted a statement on Truth Social threatening Iran, warning that further delays in peace talks could lead to military action.
Against this backdrop, oil prices rose sharply. Brent climbed to $111 per barrel, WTI to $107.7. Investors fear rising inflationary pressure and tighter Federal Reserve policy.
Additional pressure came from rising US Treasury yields, which hit 12-month highs, and a strengthening dollar. These factors traditionally weigh on risk assets.
Read more: Ethereum Price Hit by Record Inverse Oil Correlation, Fundstrat Says
Market Reaction
Exchanges liquidated $675M in positions over 24 hours, with more than $605M coming from long positions. Last week, spot bitcoin ETFs recorded $1B outflows, and Ethereum (ETH▼$1,654.33) ETFs saw $255M in outflows. This broke a six-month inflow streak.
Major Altcoin Dynamics
Ethereum (ETH) fell 3% to trade near $2,110. Solana (SOL) lost 3%, dropping to $84.
Among the top 100 cryptocurrencies, Hyperliquid (HYPE▼$59.93) showed the largest gain at +5%, while Bitcoin Cash posted the sharpest drop at almost -14%.
On-Chain Picture and Outlook
Analyst Darkfost recorded record-low bitcoin inflows from retail investors, wallets holding less than 1 BTC, on Binance at just 314 BTC per month. Meanwhile, the share of long-term holders grew to 15.26 million BTC.
Bitrue Research Institute experts call the current pullback a “healthy correction” with support at $74K. Presto Research expects high correlation with macro markets to continue and advises watching inflation data and statements from new Fed Chair Kevin Warsh.
Learn more: Top Crypto Billionaires May 2026 — Who Made the Biggest Fortune This Cycle?
