Bitcoin at $77K as stocks rise, ETFs see $2.66B outflows

Bitcoin traded around $77,000 on Monday as global stock markets rose after U.S. officials reported progress in talks with Iran. Brent crude futures fell to a five-week low.

Japan’s Nikkei 225 gained 2.9% and France’s CAC 40 rose 1.8% on the session. Five-year Eurozone government bond yields declined to 2.64%, their lowest level in five weeks.

Three-month Bitcoin futures were trading at an annualized premium of about 2% over spot, below the 5%–10% range commonly seen under neutral conditions. That basis level reflects limited demand for leveraged bullish positions from professional traders.

U.S.-listed spot Bitcoin exchange-traded funds recorded net outflows of $2.66 billion since May 7, equal to under 3% of their combined assets under management.

MicroStrategy paused new Bitcoin purchases to repurchase convertible bonds as part of an effort to reduce financial leverage. The company holds roughly 843,738 BTC and about $8.7 billion in convertible debt with an average maturity of less than four years.

Corporate actions in the tech sector continued to attract investor attention: Nvidia’s board approved an additional $80 billion share repurchase program.

Traders and analysts cited near-term technical support around $74,000. They noted that a return of positive ETF flows and further easing of geopolitical risks could allow Bitcoin to test higher levels, with $82,000 discussed as a possible target.