Bitcoin price news: BTC set to close month of May with losses
liveUpdated 35 minutes ago
A hopeful posting on Iran from President Trump helped erase morning losses.
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In a Truth Social posting, President Trump said he was meeting in the “Situation Room” to make “a final determination” on the Iran peace deal.
The president also said the naval blockade of the Strait of Hormuz will now be lifted.
The news sent WTI crude oil down by more than 2%, now below $87 per barrel. Earlier flat, U.S. stocks are now posting modest gains, the Nasdaq higher by 0.2%.
Even crypto is joining in, bitcoin (BTC) rising about $1,000 from the morning’s lows to $73,500.
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Shares of SoFi (SOFI) rose 7% on Friday as investors appeared to respond to the company’s launch of a dollar-backed stablecoin, a move that positions the digital bank at the center of a growing push by traditional financial institutions into blockchain-based payments.
The company announced earlier in the week that it rolled out SoFiUSD to 15 million users of its banking app, making it the first U.S. national bank to offer a stablecoin directly to retail customers on a public blockchain.
The stock is up 15% over the past week, trading at $18.01 at press time, but continues to trade 34% lower since the start of the year.
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The most recent of the floated Middle East peace deals appears to have more legs than the dozen or so previous ones. Stocks continue to gain, bond yields are easing, and oil has fallen back to close to a three-month low.
No bit of news, though, has been able to lift crypto prices.
Bitcoin (BTC) has fallen back to $72,500 in morning U.S. trade, down about 0.5% over the past 24 hours and lower by 5.5% over the past week. Other crypto majors are posting similar declines.
Bitcoin began May at about $77,000, so absent a sizable rally over the next 60 hours, BTC will be negative for the month, ending a two-month winning streak.
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Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.
8 hours ago
Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.
Why it matters:
Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.