Bitcoin Sinks to $76K as Strategy Buys $2B in BTC, Crypto Funds Bleed $1.07B on Iran Tensions

Bitcoin News

Digital asset investment products bled $1.07 billion last week, ending a six-week run of inflows and ranking as the third-largest weekly outflow of 2026. Bitcoin-focused vehicles absorbed the brunt of the damage with $982 million in withdrawals, while Ether products posted their steepest exit since late January at $249 million. United States investors led the retreat, pulling $1.14 billion from regional funds as inflation anxiety and a fragile US-Iran ceasefire fueled risk-off positioning. Several European markets, including Switzerland, Germany and the Netherlands, recorded modest inflows, underscoring a geographic split in sentiment as macro pressures intensified across global risk markets.

Bitcoin tumbled to a two-week low beneath $77,000 after President Donald Trump warned Tehran the "clock is ticking," cratering risk appetite across global markets. The flagship asset shed 2.4% to roughly $76,500, its weakest print since April 30, while Ether dropped 3.5% to trade near $2,116. Brent crude briefly pierced $112 a barrel as traders priced in escalation risk around the Strait of Hormuz. Market-wide futures notional volume surged 65% to $159 billion in 24 hours and liquidations exploded 500% to $677 million, evidence of forced deleveraging rather than fresh directional bets across the broader altcoin complex.

Strategy disclosed Monday it had scooped up another 24,869 BTC for approximately $2.01 billion, averaging $80,985 per coin and lifting total holdings to 843,738 BTC. The Saylor-led firm now holds bitcoin acquired at an aggregate cost of $63.87 billion, an average of roughly $75,700 per coin, and reported a year-to-date BTC Yield of 12.6%. The buy marks a sharp acceleration from the prior week's modest 535 BTC purchase and arrives after Saylor pledged the company would acquire between 10 and 20 coins for every one it might ever sell, easing concerns first raised on the Q1 earnings call about potential treasury sales.

Bitcoin Depot, once North America's largest network of bitcoin ATMs, filed for Chapter 11 bankruptcy protection on Monday and pulled its entire kiosk fleet offline. The Atlanta-based, Nasdaq-listed operator once ran 9,276 machines across the United States, Canada and Australia, but preliminary Q1 numbers showed revenue collapsing 49% year-over-year and a $9.5 million loss versus a $12.2 million profit a year earlier. CEO Alex Holmes cited tightening state-level transaction limits, outright municipal bans and mounting litigation, including ongoing scam-facilitation lawsuits from Massachusetts and Iowa attorneys general, as having rendered the business model structurally unsustainable.

Iran has rolled out Hormuz Safe, a bitcoin-settled maritime insurance platform targeting cargo owners and shipping firms transiting the Strait of Hormuz and Persian Gulf, with projected revenue exceeding $10 billion. Backed by the Ministry of Economy and Financial Affairs and developed since April, the service covers vessel inspection, detention and confiscation risks, though war damage is excluded. The launch formalizes Tehran's broader strategy of leveraging bitcoin's seizure-resistant properties under comprehensive US Treasury sanctions, following March's Strait of Hormuz Management Plan that codified IRGC-administered transit tolls reaching up to $2 million per fully loaded tanker, payable in BTC or yuan.

French-listed treasury firm Capital B added another 192 BTC for 13 million euros, or roughly $15.1 million, after finalizing three capital increases that raised 17.15 million euros in aggregate. Blockstream chief Adam Back subscribed to 1.1 million euros of share warrants, while French asset manager TOBAM provided 850,000 euros through an ATM-style agreement and a private placement contributed the remaining 15.2 million euros. The Paris-based firm, rebranded from The Blockchain Group in July 2025, now holds 3,135 BTC acquired for $330 million, implying an average cost basis of $105,270 per coin — well above current spot levels.

Bitcoin trades at $76,599 with the 24-hour drop of 1.76% sitting squarely inside a sideways structure as the 44.02 RSI reading and bearish MACD confirm fading momentum without yet flashing oversold. Initial support sits at $75,751, with deeper bids waiting near $73,989 and $72,673 should geopolitical shock extend the slide. Reclaiming $77,566 is the first hurdle for any relief rally, with $79,331 and $80,588 marking the levels bulls must conquer to neutralize the bearish bias. A daily close beneath $73,989 on rising volume would invalidate range-trade thesis and open the door to a deeper capitulation leg.