Trump slams Iran again, inflation shadow looms! Bitcoin falls below $77,000, crypto market plunges into "panic" once more

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Middle East geopolitical risks are heating up again, coupled with rising market concerns over a US inflation rebound. Bitcoin fell below the $77,000 mark this (18th) morning, with risk assets broadly under pressure. According to CoinGecko data, as of 3 PM Taipei time on Monday, Bitcoin was quoted at $76,855, down 1.5% over the past 24 hours. This sharp drop came without warning. Just a few days ago, buoyed by market optimism over the US "Digital Asset Market Clarity Act (CLARITY Act)," Bitcoin had just surged to a swing high of $82,000. Now, the "Fear & Greed Index," which gauges market sentiment, has slid from last week's 40-50 (out of 100) "neutral" range down to 27, falling back into the "fear" zone. Andri Fauzan Adziima, Head of Research at the research institute under cryptocurrency exchange Bitrue, identified the three main culprits behind this sell-off wave: US Treasury yields soaring to a 12-month high, a stronger US dollar, and escalating geopolitical conflicts are the key factors causing this market pullback. Trump issues fresh threats to Iran, oil prices surge igniting market risk-off sentiment On the news front, US President Donald Trump issued a stern warning to Iran earlier. He threatened that if there are any further delays in peace agreements, the US would not rule out taking military action. Trump stated: "They'd better move fast, or else they'll be flattened." As US-Iran conflicts may escalate again, international oil prices surged on the news, with Brent crude rising 1.78% to $111.2 per barrel; West Texas Intermediate (WTI) crude also jumped 2.2%, touching $107.7. Jeff Mei, COO of cryptocurrency exchange BTSE, analyzed that what traders are most worried about right now is the nightmare of "high oil prices" and "inflation" lingering. In the worst-case scenario, the market would have to start pricing in the possibility of the Fed restarting rate hikes to combat inflation. According to CNBC reports, inflation concerns triggered by surging oil prices have set off a fierce wave of selling in global government bond markets. Rising concerns over prolonged inflation have also led to a notable cooling in cryptocurrency ETF buying interest. According to SoSoValue statistics, for the week ending May 17, Bitcoin spot ETFs recorded $1 billion in net outflows for the week, ending the previous 6-consecutive-week run of fund-attracting momentum. Min Jung, Associate Researcher at blockchain research firm Presto Research, said: "Last week's ETF outflows reflect institutional investors reducing short-term exposure as Fed rate cut expectations continue to be pushed back, with portfolio managers shifting toward cash or defensive positions." Outlook: Watch macro data closely and central bank signals Looking ahead, Min Jung believes that in the coming week, Bitcoin's price action will remain highly correlated with global macroeconomic conditions. Investors should pay close attention to US inflation data and fluctuations in Treasury yields; however, he added that if the CLARITY Act can make substantive legislative progress, it would help boost the crypto sector's depressed sentiment. On the other hand, Bitrue's Andri Fauzan Adziima is relatively optimistic, viewing this pullback as a "healthy chip rotation" within the broader long-term bull structure. He reminded traders to closely watch the stance of the new Fed Chair Kevin Warsh on inflation, interest rates, and monetary policy, as this will have a decisive impact on market sentiment. He emphasized: Although geopolitics and ETF fund flows remain unpredictable variables, structurally speaking, I remain extremely bullish on the outlook: Bitcoin has broken out of its bearish pattern, and the fundamentals of the blockchain network are very solid. Downside risk targets $74,000 support, but I'm ready to embrace a rebound. Dominick John, Research Analyst at Zeus Research, expects the market will maintain a range-bound, headline-sensitive pattern, and only when macro signals completely break market consensus will the broader market have the chance to develop a clearer one-way major trend.

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