Bitcoin rebounded from a low of approximately $70,500 to $72,100 as geopolitical anxieties eased over the weekend. This followed a short-term correction after a decline triggered by unsuccessful US-Iran negotiations and tensions in the Strait of Hormuz. Reports that Iran is considering abandoning highly enriched uranium as a concession to end the conflict boosted risk assets; meanwhile, US stocks recovered their early losses, with the Nasdaq turning positive and rising 0.3%. However, the US blockade of the Strait of Hormuz has officially taken effect, and regional security risks remain uncertain. Crypto-related stocks strengthened, with Circle rising over 8%, and Coinbase and Strategy also recording gains. Analysts point out that Bitcoin has been consolidating for approximately 67 days since its low of $60,000 in early February, a consolidation period highly similar to that before the previous decline, leading some bears to anticipate a retest of the key support level around $60,000. (CoinDesk)

Bitcoin has surpassed the 72,000 USDT threshold, according to Odaily. The cryptocurrency is currently trading at 72,024.1 USDT, marking a 1.68% increase over the past 24 hours.

Pharos Network has announced the launch of its "Stake Before the Stake" pre-staking incentive program, supported by OKX Wallet, aimed at building a funding foundation and fostering community participation for its upcoming mainnet launch. Under the program, users can stake USDC on Ethereum through OKX Wallet and qualify for future airdrops. Staken assets are expected to migrate to the Pharos mainnet by July 20, 2026. The program will be implemented in phases, initially with a whitelist, and later open to the public. Pharos stated that this initiative aims to attract early funding and users before the mainnet launch, strengthening the network's ecosystem.

The United States military has begun intercepting ships transiting the Strait of Hormuz, state broadcaster CCTV reported, marking a significant escalation in the Persian Gulf crisis. The intercepts come days after the Trump administration announced plans to form a multinational "Hormuz Alliance" to reopen the strait, which Iran has been using to selectively block oil exports from Gulf states while permitting tankers carrying Iranian crude to pass freely. The Strait of Hormuz is one of the world's most critical energy chokepoints, with roughly 20% of global oil supply passing through the waterway. Any sustained disruption to shipping traffic carries significant implications for global oil prices and broader risk asset markets, including crypto.

According to Coinglass data, $50.24 million in positions were liquidated across the network in the past hour, including $34.16 million in short positions and $16.02 million in long positions. In addition, $22.75 million in BTC positions were liquidated and $7.93 million in ETH positions were liquidated.

Bitcoin ETFs have experienced a robust week of inflows, according to Bloomberg Senior ETF Analyst Eric Balchunas on the X platform. According to Odaily, the year-to-date net flows have turned positive. Despite previous outflows not being substantial, the funds have managed to 'fill the gap' amid limited price momentum, demonstrating significant resilience.

Bitcoin exchange-traded funds (ETFs) experienced another week of significant inflows, marking a positive shift in year-to-date flows. According to NS3.AI, this rebound occurred even though there was limited upward momentum in Bitcoin's price. Eric Balchunas noted that the strong inflows indicate investor interest remains robust despite the lack of substantial price increases.

The probability of the Strait of Hormuz returning to normal operations by May 31 is currently estimated at only 37%, according to Odaily. This marks a 9% decrease over the past 24 hours. The contract stipulates that if the International Monetary Fund's Portwatch reports a seven-day moving average of ship arrivals at the Strait of Hormuz equal to or exceeding 60 on any date from the market's creation until May 31, 2026, the market will be deemed 'yes.' Otherwise, it will be considered 'no.' The daily count includes container ships, bulk carriers, roll-on/roll-off ships, general cargo ships, and tankers, excluding those not reported by the IMF Portwatch. According to Xinhua News Agency, the U.S. military has announced plans to enforce a blockade in the Gulf of Oman and the Arabian Sea east of the Strait of Hormuz. Unauthorized vessels entering or leaving the blockade area may be intercepted, redirected, or detained. Israeli Prime Minister Benjamin Netanyahu expressed support for U.S. President Donald Trump's decision to impose a maritime blockade on Iran, stating that his government is in full coordination with Washington on this matter. In a video statement from the Prime Minister's Office, Netanyahu told his cabinet, "Iran has violated the rules, and President Trump has decided to impose a maritime blockade. We certainly support this firm stance, and we are maintaining ongoing coordination with the United States."

World Liberty Financial (WLFI) has increased the circulation of its USD1 stablecoin by a net $22 million after minting $25 million and burning $3 million on Monday. According to NS3.AI, this development follows WLFI's recent repayment of $25 million from the approximately $75 million it borrowed against its governance token. This repayment was prompted by the near-100% utilization of Dolomite's USD1 lending pool. WLFI has not provided details on the purpose of the token burn or the intended use of the newly minted USD1.

On-chain analytics platform Glassnode reported on X that XRP perpetual contracts have seen a significant reduction in open interest following a major deleveraging event in early October 2025. According to Odaily, the open interest dropped from 7 billion to 2 billion XRP, marking a 71% decrease. Subsequently, the market positions further contracted, with open interest declining by an additional 25% to 1.5 billion XRP. The current market has not yet rebuilt speculative positions, indicating that derivatives traders remain cautious and risk appetite has not fully recovered.

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