London, May 25, 2026, 11:03 BST
Bitcoin moved above $77,000 on Monday as trading stayed thin with the holiday. Softer oil prices, helped by hopes for U.S.-Iran talks, pushed bitcoin higher. Still, selling from listed bitcoin funds capped much of the move. Bitcoin was last at about $77,500, up close to 0.8% on the day.
Markets in New York and London are shut for holidays—Memorial Day for the New York Stock Exchange and the Spring Bank Holiday on May 25 for London. That means no trading in cash equities at either center. Crypto markets are still open, moving without direction from those big equity exchanges.
Monday finished as a link after losses last week and ahead of what’s coming. U.S. spot bitcoin ETFs are seeing net outflows daily from May 18 through May 22, pulling about $1.26 billion from the funds, according to Farside Investors.
ETF outflows have come into focus for crypto traders, according to Timothy Misir, head of research at BRN, who told CoinDesk that “sustained ETF redemptions would make every rally harder to hold.” CoinDesk reported spot bitcoin ETF outflows topped $2 billion over the last two weeks. CoinDesk
Bitcoin outperformed other major tokens. CoinDesk reported bitcoin trading just over its 50-day simple moving average, a level chart watchers often use. Ether, XRP, and solana all stayed under their 50-day averages. Reuters had ether at about $2,110 in the latest update.
Oil pulled back, with Brent down more than 4% on Monday and touching its lowest level in two weeks. The U.S. and Iran appeared closer to a deal to reopen the Strait of Hormuz, but sources said major issues are unresolved. “We’ve been at this stage before, only for talks to break down,” Warren Patterson at ING said. Reuters
Rubio signals possible strait deal, warns on Iran if talks stall
U.S. Secretary of State Marco Rubio said there’s a “pretty solid thing on the table” that could reopen the strait and kick off time-limited nuclear talks. But if diplomacy fails, Rubio said the U.S. would “deal with Iran another way.” Lower oil prices are considered positive for bitcoin, as less inflation pressure supports risk assets by easing rate hike worries. Reuters
SEC approved Nasdaq PHLX to list and trade Nasdaq Bitcoin Index Options last week, in a move tied to market structure. According to CoinDesk, the product still waits for a CFTC signoff. The options allow traders to place bets on bitcoin price at a set level. They settle in cash, paying out gains or losses in dollars rather than bitcoin.
Trouble spots are still there for the recovery. A collapse in Iran talks could send oil higher, bring back inflation worries, and push up Treasury yields that hurt yield-less assets. Tim Sun, senior researcher at HashKey Group, said Friday bitcoin’s $75,000 to $77,000 band is a key near-term support, but warned that higher U.S. yields and geopolitics could leave it stuck in a range.
Markets start the week eyeing whether ETF redemptions settle down after the holiday, if the drop in oil prices stretches on, and if the U.S.-Iran talks finally bring a decision instead of delays. According to Reuters, investors are also focused on U.S. ADP jobs data due Tuesday and euro zone confidence numbers later in the week.
