Bitcoin fell below $77,000 on Tuesday as renewed U.S. strikes on Iranian targets dented hopes for a near-term peace deal, while cooling ETF inflows added pressure.
Bitcoin last traded 1.9% lower at $75,912.3.
Hopes for peace were boosted after President Trump said a memorandum of understanding with Iran had been "largely negotiated." However, the U.S. military carried out "defensive" strikes in southern Iran, sinking two IRGC vessels.
Iran retaliated by firing missiles at U.S. planes. U.S. attacks then hit missile launchers near Bandar Abbas.
ETF demand showed signs of slowing. U.S. spot bitcoin ETFs recorded net outflows of $105.19 million on May 22, the sixth consecutive outflow day, with cumulative redemptions of $1.55 billion.
"Investors are trimming crypto exposure, not panicking," said Dessislava Ianeva of Nexo Dispatch.
Focus now on U.S. PCE inflation data due Thursday.
Altcoins also fell. Ethereum lost 1.7% to $2,074.59, XRP slipped 1.7% to $1.3312, Solana declined 1.8%, and Cardano dipped 1.7%. Dogecoin slipped 1.3%.
