Bitcoin fell under $77,000 on Monday as market risk-off sentiment intensified, with on-chain indicators showing mounting capitulation pressure. Data shows 6–12 month holders have a realized cost basis near $110,851, and exchange inflows have risen since May 14 alongside short-term holders selling at a loss. The setup suggests a fast V-shaped rebound is less likely until the excess selling supply is absorbed and sentiment steadies.

On May 16, Iran's Ministry of Economy launched Hormuz Safe, a state-backed maritime insurance platform that settles premiums in Bitcoin for ships transiting the Persian Gulf and the Strait of Hormuz. The system is designed to bypass SWIFT and Western banking channels and is framed as a potential $10 billion annual revenue mechanism. Bitcoin was trading at $76,921, up 0.2% over 30 days, after falling from about $82K earlier in May.

Michael Saylor said on X that Strategy bought another tranche of Bitcoin at an average price of about $80,985, lifting the company's holdings to 843,738 BTC. Bitcoin, after dipping below $76,700 in the Asian session, rebounded to around $77,400–$77,500 following the disclosure. The firm's stack is listed at roughly $63.87 billion in total acquisition cost, with an average cost basis near $75,700 per BTC.

On May 18, U.S.-based Bitcoin ATM operator Bitcoin Depot began a voluntary Chapter 11 process as it moves toward winding down operations and selling assets. The same day, Capital B spent €13.0 million to add 192 BTC, lifting its holdings to 3,135 BTC, while Bitcoin retail activity fell to a record low.

Bitcoin (BTC) fell to $76,500, marking a two-week low, as risk assets weakened and leveraged longs were forced out. A post said more than $500 million in crypto long positions were liquidated in the last 60 minutes after BTC dropped below $77,000. Traders are watching the $73,800–$75,000 zone and an options market with about $14 billion in open interest heading into expiry.

Bitcoin Depot, formerly North America's largest Bitcoin ATM operator with 9,276 kiosks across the U.S., Canada, and Australia, has entered a voluntary Chapter 11 process and taken its network offline. The Nasdaq-listed firm (BTCD) reported Q1 revenue down 49% year over year, gross profit falling 85% to $4.5 million, and results flipping from a $12.2 million profit to a $9.5 million loss.

Bitcoin Depot filed for Chapter 11 protection on May 18, 2026, and its entire fleet of 9,276 Bitcoin ATM kiosks went offline that day. The company reported preliminary Q1 2026 revenue of $83.5M, down 49.2% year-over-year, alongside a $9.5M net loss.

The global Bitcoin ATM network shrank in early 2026, slipping from 39,456 machines on January 1 to 38,484 by May 18. The decline only started in March after 360 ATMs were added in January and February, suggesting the shift did not track BTC's price moves.