News

Global Crypto Markets May 18: Bitcoin Slides Below $77K

Daily review of May 18 — top 15 coins, stablecoins, NFT, institutional flows. BTC -0.9%, ETH -2.3%.

Toms Ābeltiņš

19 May 20267 min read

Global Crypto Markets May 18: Bitcoin Slides Below $77K

On Monday May 18, BTC opens at $77,414 and slides to $76,803 — lowest since start of May. ETH falls to $2,113. XRP at $1.38. Geopolitical tensions (Middle East, Iran) are the primary pressure factor.

Global crypto market on May 18: Bitcoin slides below $77,000, geopolitical tensions weigh on sentiment

On Monday, May 18, 2026, the global crypto market opened firmly in the red. Bitcoin traded around $76,800 - the lowest intraday point since the start of May - while Ethereum drifted below $2,120, its weakest level since April 7. The central backdrop of the day was geopolitical tension: escalation in the Middle East, US President Trump's Truth Social posts, and drone strikes near Iran dampened risk appetite across markets. US stock futures opened lower, oil prices rose, Treasury yields climbed, while gold fell - a classic risk-off picture. For crypto, this meant broad downward pressure across almost the entire spectrum. This is Norriwire's daily review of the global crypto market on May 18 - top 15 coins, stablecoins, the NFT segment, and key market signals.

Market overview

According to CoinMarketCap and CoinGecko data from early May 18, total crypto market capitalisation fell to approximately $2.62 trillion, down from $2.68 trillion the previous day. Bitcoin's 24-hour trading volume stayed around $35-40 billion - moderate for a Monday. BTC dominance held around 60%, as the defensive capital rotation continued, with altcoins showing weak relative performance. The Fear & Greed Index, which stood at 27 (Fear) on Sunday, remained in a similar range at 25-28 on Monday, indicating continuing retail investor nervousness. The Altcoin Season Index stayed below 40 points, firmly in "Bitcoin Season" territory.

Top 15 coins on May 18

Prices compiled from Yahoo Finance, CoinGecko, and CoinMarketCap data from the first half of May 18 (UTC).

1. Bitcoin (BTC) - approx. $76,800, -0.9% from Sunday

Bitcoin opened at $77,414 and drifted down to $76,803 in the afternoon - the lowest opening price since the start of May. The main driver was geopolitical tension from Middle Eastern incidents and Trump's social media comments. Technically, the $75,000-$77,000 support zone is holding, but the 200-day moving average around $82,000-$83,000 remains as upper resistance. RSI held in the neutral zone around 48-50.

2. Ethereum (ETH) - approx. $2,114, -2.3% from Sunday

ETH opened at $2,129 and continued to weaken to $2,113 - the lowest morning opening since April 7. The ETH/BTC ratio continued its decline, remaining at its lowest level in 10 months. Implied volatility on Deribit options remained elevated. Key risk: if BTC fails to hold $75,000, ETH could test the $2,000 level.

3. Tether (USDT) - $1.00, stable

USDT market cap continued to hold around $189.6 billion, representing approximately 58.8% of the total stablecoin market. The USDT peg remained stable with no significant deviations.

4. BNB - approx. $635, -2.6% from Sunday

BNB fell from $652 (Sunday) to the $632-$638 zone, which is technically identified as a key resistance level. The drop coincides with the general deterioration in altcoin sentiment.

5. XRP - $1.38, -2.1% from Sunday

XRP slipped from $1.41 to $1.38 with a 24-hour trading volume around $1.14 billion. XRP ETF cumulative net flows remained around $1.39 billion - one of the few positive indicators in the crypto ETF space.

6. USDC - $1.00, stable

USDC in circulation stayed around $77.6 billion. Q1 2026 supply growth was $8 billion. Circle continues expanding USDC to new blockchains - most recently Injective.

7. Solana (SOL) - approx. $84-85, -1.5% on the day

SOL continued to weaken against a backdrop of -7-8% weekly performance. The $83-$84 zone is the nearest support level. SOL's relative weakness against BTC continued for the second week in a row. Technical resistance at $88-$91.

8. Dogecoin (DOGE) - approx. $0.109, -1.5% on the day

DOGE followed the general altcoin segment weakness. Meme-coin activity was quiet amid geopolitical uncertainty.

9. TRON (TRX) - approx. $0.352, flat / +0.2% on the day

TRX was one of the few top-10 assets showing no significant decline. The TRON network remained one of the highest stablecoin transaction platforms.

10. Cardano (ADA) - approx. $0.243, -0.8% on the day

ADA traded close to the $0.24 support level in consolidation, showing mild weakness. ADA's inclusion in the CME Nasdaq Crypto Index has not altered the short-term price dynamic.

11. Avalanche (AVAX) - approx. $9.34, +1.5% on the week

AVAX was a notable exception - slightly positive daily dynamics against a weak market backdrop. CME plans to launch Avalanche cash-settled futures on May 29, which could attract institutional attention.

12. Chainlink (LINK) - approx. $13.10, -1.2% on the day

LINK showed slightly weaker dynamics. Its planned inclusion in the CME Nasdaq Crypto Index (launching June 8) provides a medium-term positive signal.

13. Hyperliquid (HYPE) - approx. $26-27, +1% on the day

HYPE remains one of the strongest performers in May (+16% weekly per May 17 data). Decentralised exchange segment activity remained high.

14. Polkadot (DOT) - approx. $3.90, -1.0% on the day

DOT remained in consolidation. The Polkadot Ecosystem was cited as one of the top gaining segments on a weekly basis.

15. Sui (SUI) - approx. $2.10-2.20, flat / +0.5% on the day

SUI showed comparatively stable dynamics. The network has been cited among the most promising Layer 1 projects in May 2026.

Stablecoins: latest status

Total stablecoin market remains above the $320 billion mark - a new all-time high. USDT (Tether) accounts for $189.6 billion (57.96% share - down 2.5% since start of year), USDC (Circle) - $77.6 billion (~24%). Together, the two major stablecoins cover more than 82% of the segment.

Regulatory backdrop: the US GENIUS Act has been signed into law, requiring stablecoin issuers to back every token 1:1 with high-quality liquid assets. Implementation rules are due by July 18, 2026 - one of the key stablecoin regulatory milestones this year.

NFT and Web3 segment

NFT trading activity on May 18 remained quiet amid geopolitical uncertainty and general risk-off sentiment. Major platforms - OpenSea, Magic Eden, Blur - recorded lower 24-hour volumes compared to the previous week's average. Real-world asset (RWA) tokenisation reached $31.4 billion in May 2026, a significant increase year-on-year. This segment showed greater resilience to sentiment fluctuations than the traditional NFT art segment.

Institutional flows and ETF data

Bitcoin spot ETF data for the week ending May 16 showed net outflows above $1 billion - a negative signal for medium-term institutional inflows. XRP ETF remained an exception with positive cumulative flows around $1.39 billion. In CME futures markets, Bitcoin open interest remained stable, while BTC volatility indices edged up on the back of geopolitical uncertainty. CME plans to launch Avalanche cash-settled futures on May 29 and a new Nasdaq Crypto Index product on June 8.

Key macro factors on May 18

On Monday, traders were clearly concerned about several simultaneous factors:

First, geopolitical tension - Middle Eastern escalation and drone strikes in the Iran region created uncertainty. US President Trump published comments on Truth Social that were interpreted as signalling growing US-Iran tensions.

Second, macroeconomic backdrop - US stock futures opened lower, oil prices climbed, Treasury yields rose, gold fell. This is the classic "risk-off" positioning in which crypto typically suffers.

Third, markets awaited Kevin Warsh - the Federal Reserve Chair's first public statement in his new role - as a clarifying signal for US interest rate policy.

Key takeaways for market participants

The BTC $75,000-$77,000 zone is the nearest significant support - holding it is a precondition for any price stabilisation.
Geopolitical tension (Middle East, Iran) is the primary short-term risk factor on May 18-19 - latest international developments need monitoring.
The ETH/BTC ratio continues to fall - no conditions for altcoin season yet.
AVAX futures inclusion in CME on May 29 and Nasdaq Crypto Index on June 8 are the next catalysts for institutional attention.
The stablecoin segment at 320+ billion confirms that institutional liquidity remains in the crypto ecosystem even as prices slide.

Norriwire Briefing