Why bitcoin dropped sharply below $77,000

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#bitcoin #crypto #iran #economy #finance May 18th, 2026 - Iran may be attempting something that bitcoin supporters and critics have debated for years, using bitcoin to operate outside the traditional global financial system. In this episode of The Daily Wolf, Scott Melker breaks down reports surrounding “Hormuz Safe,” a proposed crypto-based maritime insurance system tied to the Strait of Hormuz that could potentially use Bitcoin and stablecoins to facilitate payments outside of SWIFT and US-controlled banking infrastructure. Chapters 00:00 Bitcoin drops below $77,000 02:03 Michael Saylor buys another $2 billion in Bitcoin 05:25 Iran’s Bitcoin proposal explained 08:12 Why censorship resistance makes Bitcoin controversial 09:57 Bhutan’s surprising Bitcoin strategy 13:03 Bitcoin ATM operator files for bankruptcy #blockchain #markets #scottmelker #investing “The Daily Wolf with Scott Melker” delivers everything you need to know about crypto in just 15 minutes. Get rapid-fire insights on Bitcoin, ETFs, regulation, and the macro forces moving markets, so you can stay one step ahead every weekday. == — Facebook: https://www.facebook.com/yahoofinance — X/Twitter: https://x.com/YahooFinance — Instagram: https://www.instagram.com/yahoofinance/ — TikTok: https://www.tiktok.com/@yahoofinance — LinkedIn: https://www.linkedin.com/company/yahoo-finance

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