Bitcoin’s price calms down at $77K in anticipation of an eventful week ahead.
After declining to about $74,000 on Saturday, Bitcoin’s price recovered to $77K yesterday and seems to have stabilized at that level.
The move follows a statement from the US President Donald Trump on the state of affairs with Iran and the potential for a permanent peace, although the market seems to have accepted it as an extension of the current ceasefire.
Bitcoin Price Stable at $77,000, Important Week Ahead
As we reported earlier today, crypto markets have remained mostly flat over the past 24 hours. They did go through a weekend boost after the US President hinted at a “largely negotiated” deal with Iran.
Analysts also hinted that the ceasefire is likely to be extended for another 60 days.
“It also appears further progress has been made toward a 60-day ceasefire extension for the Iran war.” – Wrote the Kobeissi Letter.
That said, Bitcoin is trading slightly above $77,000 and remains stable on Memorial Day, with markets closed.
However, the week ahead holds important economic events, namely:
- Consumer confidence data for May – on Tuesday
- April’s PCE inflation data – on Thursday
- US Q1 2026 GDP data – on Thursday
It’s also important to note that spot Bitcoin ETFs marked one of their worst weeks from May 18 to May 22, noting more than $1.2 billion in outflows. Ethereum ETFs also suffered, while other products like SOL, XRP, and HYPE funds saw increases in assets under management.
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Altcoins Flat, HYPE Rally Cools Off
Many altcoins have also traded relatively flat over the past 24 hours, especially those with the largest market capitalizations. ETH is more or less where it was yesterday; BNB is up 0.5%, TRX by 0.3%, while XRP, SOL, DOGE, and ADA are down 0.3%.
One of last week’s best performers, HYPE, seems to be slowing down after surging by more than 40% in the past seven days. That said, the altcoin continues to show considerable strength and is already ranked as the 11th-largest project in the industry by total market capitalization.
The best performers from the past 24 hours include DEXE, which increased by 20%, STABLE, up 15%, and XDC Network (XDC), up 9.6%. On the flipside, Uniswap’s UNI is down 2.7%, making it today’s worst-performing altcoin, followed by Kaspa and Sui.
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