Quick overview

---

Cryptocurrencies lost momentum over the past hours as uncertainty over U.S.–Iran negotiations and renewed institutional outflows weighed on sentiment across digital assets.

While the start of the week had shown a promising rebound for Bitcoin and the broader crypto market, enthusiasm faded on Tuesday after renewed U.S. strikes in Iran dampened hopes for a near-term peace agreement. At the same time, cooling inflows into spot exchange-traded funds (ETFs) added further pressure on the world’s largest cryptocurrency.

Bitcoin (BTC) fell 1.7% over the past 24 hours to $75,955, leaving it up 1.3% on a weekly basis, according to Binance data.

The Volmex Bitcoin Implied Volatility Index declined to 36.11 on Monday, its lowest level since September last year and close to the lowest readings since 2023. The index tracks expected 30-day volatility derived from real-time crypto options pricing.

After two weeks of correction, Bitcoin appears to have found a consolidation zone around $77,000, following a drop of more than 6% from the $83,000 peak reached earlier in May.

Ethereum (ETH) rose 1.7% on the day, remaining broadly flat in recent sessions at around $2,073. Among altcoins, losses were widespread, with Hyperliquid, Solana, and XRP falling between 1.7% and 4%, while Tron bucked the trend with a 0.9% gain.

Focus on the Strait of Hormuz

Renewed uncertainty in the Middle East pushed investors toward traditional safe-haven assets such as the U.S. dollar and gold, while weighing on equities and cryptocurrencies.

Although U.S. President Donald Trump said over the weekend that negotiations with Iran were progressing “in an orderly and constructive manner,” the U.S. military later confirmed it carried out “defensive” strikes in southern Iran.

The operation reportedly targeted vessels allegedly attempting to deploy mines, as well as missile launch sites.

ETF flows cool down

ETF demand—one of the main drivers of Bitcoin’s rally this year—has also shown signs of weakening. U.S. spot Bitcoin ETFs recently recorded net outflows after a strong institutional buying phase earlier in the quarter.

In total, spot Bitcoin ETFs saw approximately $1.26 billion in net outflows over the past week, signaling a more cautious stance among investors amid expectations that U.S. interest rates may remain elevated for longer.