ME News Report, May 18 (UTC+8), influenced by U.S. President Trump's tough rhetoric against Iran, the crypto market and global risk assets collectively weakened. Trump stated Iran has "little time left," "it's best to act quickly, or it will be all over," prompting Brent crude oil to briefly break above $112 per barrel. Bitcoin fell about 2.4% to $76,500, hitting a new low since April 30; Ethereum dropped about 3.5% to $2,116, nearly erasing all gains since April. U.S. stock futures also came under pressure, with S&P 500 and Nasdaq 100 futures down 0.3% and 0.25%, respectively. Derivatives market data shows that over the past 24 hours, total market contract nominal trading volume surged 65% to $159 billion, but open interest (OI) declined 1.48% to $125 billion, while liquidation amounts skyrocketed 500% to $677 million, indicating the market is experiencing large-scale deleveraging rather than new directional bets. Altcoins performed significantly weaker than mainstream coins, with BCH down 10% and DOGE down 4.5%. The CoinDesk Meme Index fell 2.2%, making it one of the worst-performing sectors. Among them, BCH showed clear signs of a "crowded short": OI increased 13% to 1.47 million coins, perpetual contract funding rates dropped to an annualized -72%, the most negative among mainstream coins, indicating aggressive short-selling sentiment, which could trigger sharp short covering if sentiment reverses. In contrast, ZEC performed relatively strongly, with OI increasing for the third consecutive day and surpassing 2 million coins; 24-hour active buy data ranked among the top for mainstream coins, with funding rates only around 4%, not yet in overheat territory. ZEC has gained 111% this quarter, and the market believes that if the overall environment stabilizes, there is still room for further gains. Additionally, tokens like HYPE, CRO, and TON with open contracts also saw increases. Apart from ZEC, TON, and HYPE, most of the top 25 tokens recorded negative active buy-sell volume differences (CVD), indicating the market remains predominantly driven by active selling. Regarding volatility, Bitcoin's 30-day implied volatility index BVIV has risen from 40% to 42% since May 9; the U.S. Treasury volatility indicator MOVE index surged 14% last Friday, the largest single-day increase since March 26, raising concerns that rising global financial pressures could further boost crypto market panic sentiment. (Source: ChainCatcher)

BTC0.28%

ETH0.02%

BZ-1.89%

US5000.52%

US500200.52%

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Trump’s tough stance on Iran triggers risk assets sell-off, and Bitcoin falls below $77k

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