Live markets: bitcoin on sidelines as markets surge on Iran peace hopes
liveUpdated 3 hours ago
Oil prices and bond yields have opened the week sharply lower following President Trump’s weekend announcement of an imminent Middle East agreement.
By Stephen Alpher and Olivier Acuna
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“Someone just broadcasted 5 transactions totaling 107 BTC to the Bitcoin “burn address” 1111111111111111111114oLvT2,” wrote Timechain Index founder Sani on X.
AMLBot suggested the coins were related to Mt.Gox.
Whatever the provenance of the move, there are 107 fewer bitcoin in the network’s ultimate 21 million coin supply.
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Markets have been rugged numerous times over the past weeks on supposed Middle East peace deals, but President Trump’s Saturday announcement of a coming agreement for the moment continues to have legs.
Oil prices and bond yields are sharply lower in response, and that’s helping stocks, where the Nasdaq has surged 1.4% in Tuesday morning trade.
Crypto, though, is watching from the sidelines as traders shovel capital into AI-related trades and await mega-IPOs like SpaceX and OpenAI.
The chip stocks are the day’s big winners, led by Micron (MU), which is higher by 17% after UBS upped its price target to a whopping $1,625, or more than double Friday’s close. Micron is now higher by more than 800% on a year-over-year basis.
After briefly attempting to rally, bitcoin (BTC) is changing hands at $76,800, down nearly 1% over the past 24 hours. Ether (ETH), solana (SOL) and XRP (XRP) are down similarly.
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Spot volumes fell 14.0% to $1.05T in April, the lowest since November 2023. Total exchange volume declined 11.7% to $4.61T, a fourth straight monthly drop.
May 22, 2026
Spot volumes fell 14.0% to $1.05T in April, the lowest since November 2023. Total exchange volume declined 11.7% to $4.61T, a fourth straight monthly drop.
Why it matters:
Spot volumes fell 14.0% to $1.05T in April, the lowest since November 2023. Total exchange volume declined 11.7% to $4.61T, a fourth straight monthly drop.