TechFlow News, May 18: According to The Block, Bitcoin fell below $77,000 USD late Sunday night Eastern Time in the U.S., reaching a low of $76,593. Analysts attribute the drop primarily to U.S. President Trump’s post on Truth Social threatening military action against Iran if peace negotiations continue to stall—heightening geopolitical risk. Meanwhile, Brent crude rose 1.78% to $111.20 per barrel, and WTI crude rose 2.2% to $107.70 per barrel, fueling market concerns that rising oil prices could stoke inflation and prompt the Federal Reserve to resume interest-rate hikes. Additionally, Bitcoin ETFs recorded $1 billion in net outflows last week, ending six consecutive weeks of net inflows; the Fear & Greed Index dropped to 27—within the “fear” range. Analysts note that Bitcoin will remain highly correlated with macroeconomic markets in the near term, with $74,000 serving as a critical support level. Key developments to watch include policy statements from newly appointed Fed Chair Walsh and progress on the Crypto Currency Clarity Act.
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