Bitcoin entered May with momentum. It's ending it with losses, and a two‑month winning streak hanging by a thread.
Bitcoin fell back to $72,500 in morning U.S. trade on Friday, down about 0.5% over the past 24 hours and lower by 5.5% over the past week. Bitcoin began May at around $77,000, so absent a sizable rally over the remaining hours, BTC will be negative for the month, ending a two‑month winning streak.
The rest of the crypto market is following Bitcoin down. Other major tokens are posting similar weekly declines, and the mood across trading desks is cautious at best.
Crypto Is Getting Left Behind
Here's what makes this week especially uncomfortable for crypto holders: the rest of the financial world isn't struggling at all. Stocks are hitting records. Bond yields are easing. Oil is falling.
And crypto is still going down.
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.
That divergence is striking. When risk assets rally and crypto doesn't follow, it tells you something specific about where institutional confidence currently sits.
Trump Steps In, And Bitcoin Responds
Then came a late‑session post that changed the mood, at least briefly.
President Trump posted on Truth Social that he was meeting in the Situation Room to make a final determination on the Iran peace deal. He also said the naval blockade of the Strait of Hormuz would now be lifted. The news sent WTI crude oil down by more than 2%, below $87 per barrel. U.S. stocks posted modest gains, the Nasdaq rising 0.2%.
Even crypto joined in, with Bitcoin rising about $1,000 from the morning's lows to $73,500.
A $1,000 bounce is meaningful, but it doesn't fix a month of losses or nine consecutive days of ETF outflows. Context matters.
SoFi Surges on Stablecoin News
One bright spot in Friday's session came from an unexpected corner of the market.
Shares of SoFi rose 7% as investors responded to the company's launch of a dollar‑backed stablecoin. SoFi 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, but continues to trade 34% lower since the start of the year.
Traditional finance is embracing crypto infrastructure even as crypto prices struggle. That's an interesting tension worth watching.
What the Month‑End Closing Price Means
Monthly closing prices matter in technical analysis. A May close below $77,000 would confirm the monthly loss and potentially signal further downside heading into June.
The Iran peace deal optimism could yet save the month if it sparks a sustained rally over the long weekend. But with nine straight days of ETF outflows, record withdrawal figures, and no clear macro catalyst on the immediate horizon, Bitcoin needs more than a Truth Social post to reclaim the ground it has lost this month.
