Bitcoin (BTC) recovered to near $77,000 on May 18 after President Donald Trump announced he suspended a planned U.S. military strike on Iran at the request of Gulf leaders. The halt triggered a risk-on rotation across markets, with Nasdaq 100 futures, S&P 500, and gold gaining. Trump stated on Truth Social that the Emir of Qatar, Saudi Crown Prince Mohammed bin Salman, and UAE President Mohamed bin Zayed asked for a delay to allow negotiations, emphasizing any deal must prevent a nuclear-armed Iran. Defense Secretary Pete Hegseth and Joint Chiefs Chairman Daniel Caine are keeping forces ready for a full assault if talks fail. The reversal followed a tense weekend: BTC slid below $77,000 on Sunday after Trump warned Iran, leading to $580 million in long liquidations. Despite the bounce, BTC was still down 2% over 24 hours. Spot Bitcoin ETFs saw over $1 billion in outflows for the week, ending a six-week inflow streak as rate-cut expectations waned. A sustained pause could shift sentiment, but volatility remains tied to Trump's posts and Iran's response.

Key facts

• Bitcoin reclaimed near $77,000 after Trump suspended military strike on Iran.
• Risk-on rally lifted Nasdaq 100, S&P 500, and gold following the announcement.
• Gulf leaders requested delay for nuclear deal negotiations; Trump keeps forces ready.
• BTC slid below $77,000 earlier amid $580M in long liquidations over the weekend.
• Spot Bitcoin ETFs saw over $1B outflows, ending six-week inflow streak.

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