Bitcoin off the lows after Trump post but set to finish May with losses

A Truth Social post from President Trump saying he was in the "Situation Room" to make "a final determination" on the Iran peace deal and that a naval blockade of the Strait of Hormuz would be lifted pushed markets lower for oil and helped erase bitcoin's morning losses.

WTI crude fell more than 2% to below $87 a barrel, and bitcoin recovered about $1,000 from earlier lows to trade near $73,500. Bitcoin sits around $73,500 and is down roughly 4.5% for May. Ether has fallen more than 11% this month while Solana is down about 2.1%.

Having begun May at about $77,000, bitcoin would finish the month negative and end a two-month winning streak unless a sizable rally occurs in the next roughly 60 hours. Robinhood shares climbed another 10% Friday, extending a rally that has lifted the stock more than 20% over the past two trading sessions.

United States

bitcoin, trump, truth social, iran, hormuz, wti crude, ether, solana, robinhood, may losses