Bitcoin (BTC) dropped to $76,000 during the early Asian trading hours on Monday as US-Iran tensions resurfaced. 

Key takeaways

• Bitcoin falls to $76,500 as bearish momentum becomes increasingly tied to geopolitical developments.
• Over $607 million in long positions have been liquidated in the last 24 hours.
• Bitcoin traders say support at $76,000 should hold to avoid a BTC price drop to $65,000.

Bitcoin hits three-week lows with 7% drop

Data from TradingView showed BTC price dropped as much as 7% over the last three days to three-week lows of $76,500, erasing all the gains made since May 1. 

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The losses come just days after BTC/USD reached 13-week highs around $83,000, boosted by strong inflows into spot exchange-traded funds and optimism surrounding the US CLARITY Act.

Related: BTC price ‘bull trap’ at $76.5K? Five things to know in Bitcoin this week

On Sunday, however, US President Donald Trump issued fresh threats against Iran regarding delays in the peace agreement, warning that the “clock is ticking.”

Source: TruthSocial/Donald J. Trump

“Trump confirms the clock is ticking for Iran. The US is allegedly preparing for a potential new military operation against Iran,” analyst CryptoRover said in a Monday post on X, adding:

“This is extremely dangerous for $BTC.”

The move in Bitcoin was accompanied by $607 million in long liquidations over the last 24 hours, with BTC long liquidations accounting for $190 million.

This brought the total liquidations across the crypto market over the last 24 hours to $677 million.

Total crypto liquidation across all exchanges. Source: CoinGlass

Oil also saw volatility, with WTI rising over 3% in a matter of hours to $104 per barrel before correcting to $101.

CFDs on WTI crude oil one-hour chart. Source: Cointelegraph/TradingView

“WTI surged above $103 as Trump publicly lost patience with stalled peace talks and a waiver for Russian crude sales expired, adding to supply fears around the still-disrupted Strait of Hormuz,” trading resource Capital.com said in a Monday X post, adding:

“Higher oil means hotter future inflation, reinforcing higher-for-longer Fed expectations and lifting both the dollar and yields — a tough combination.”

Bitcoin traders say bears “back in the driver’s seat”

Bitcoin traders, meanwhile, looked at the technical setup for clues as to where the price might head next.

Analyst CryptoJelleNL said that a bearish divergence from the relative index as BTC/USD ran into resistance at $82,000 was responsible for the “pullback we’re in right now,” adding:

“Bears getting back in the driver’s seat?”

BTC/USD daily chart. Source: X/CryptoJelleNL

MN Capital founder Michael van de Poppe said immediate support at $76,000 should hold to “prevent a market-wide crash.”

An accompanying chart showed other support levels to watch if this area is lost, including the $71,000-$73,000 demand zone and the local low at $65,000.

BTC/USD chart. Source: X/Michael van de Poppe

The local low at $65,000 coincides with the target of an inverted V-shaped pattern, as shown on the daily chart below. This represents a 16% drop from the current price.

BTC/USD daily chart. Source: Cointelegraph/TradingView

Note that the BTC/USD pair experienced a similar sharp correction of the same magnitude after being rejected by the 200-day moving averages in April 2025.

Key Highlights

• Ford shares rallied 6.9% in premarket hours Monday, rebounding from Friday’s 7.5% decline
• Ford Energy secured a five-year agreement with EDF Group for battery storage systems totaling up to 20 gigawatt-hours
• The automaker unveiled seven new European models through 2029, including five consumer vehicles and two commercial offerings
• Ford Pro’s global software subscription base reached 879,000 in Q1 2026, marking a 30% annual increase
• UBS maintained its Buy recommendation with a $14 target price, while reducing its 2027 earnings projection by approximately 10%

Ford shares surged 6.9% during premarket hours Monday, staging a sharp recovery following Friday’s 7.5% decline. The rally was fueled by two distinct announcements — one of which didn’t involve automobiles at all.

Ford Motor Company, F

The company’s recently established energy division, Ford Energy, announced a framework agreement with French energy giant EDF Group to deliver up to 20 gigawatt-hours of battery energy storage systems across a five-year period. Initial deliveries are slated to begin in 2028.

Ford Energy focuses on serving utility-scale operations, data centers, and commercial and industrial clients across the United States. This EDF partnership represents a significant milestone for the newly launched division, providing its first substantial commercial foundation.

On the vehicle front, Ford revealed its European product roadmap featuring seven new models arriving by the end of 2029. The announcement came during a dealer and partner event held in Salzburg, Austria.

The lineup includes five consumer vehicles: a compact SUV from the Bronco family to be manufactured in Valencia beginning 2028, a pair of small electric vehicles, and two crossover models. Each of these five offerings will feature multiple powertrain configurations, including hybrid and electric alternatives.

Ford Pro Strengthens European Commercial Position

The two additional models belong to the Ford Pro commercial vehicle portfolio. The Ranger Super Duty boasts a payload capacity approaching 2 tonnes and towing capability of up to 4.5 tonnes. The Transit City represents a fully electric urban delivery van, scheduled for release later this year with an estimated range of 254 kilometers.

Ford Pro has maintained its leadership position in the European commercial vehicle market for 11 straight years. The division currently serves 1.2 million connected customers, generating approximately six million vehicle health data points each day.

The company introduced new Dealer Uptime Services designed specifically for small business customers. Initial pilot programs demonstrated repair time reductions of up to 50%, with 80% of maintenance issues identified proactively before escalating into major problems.

Software Revenue Gaining Momentum

Ford’s worldwide paid software subscription count climbed to 879,000 during Q1 2026, representing a 30% year-over-year increase. This business segment is generating gross margins above 50%.

The automaker aims for software and services to contribute 25% of Ford Pro’s operating income. This represents a significant strategic evolution for a company still navigating its path to profitability — Ford recorded a negative EPS of $1.53 over the trailing 12 months.

Market analysts anticipate a turnaround this year, with consensus estimates projecting an EPS of $1.64 for 2026.

Ford recently expanded its employee pricing incentive to all U.S. consumers through July 6, applicable to most 2025 and 2026 Ford and Lincoln vehicles.

In related news, Chinese automotive manufacturer Geely has acquired a portion of Ford’s Almussafes manufacturing facility in Valencia, Spain, with potential plans to produce a Ford vehicle model at the location.

UBS reaffirmed its Buy rating on Ford shares after conducting a tour of the company’s EV Development Center located in Long Beach, California. The firm established a $14 price objective, reduced from $15, attributing the adjustment to elevated commodity costs impacting its 2027 profitability forecast.

Ford stock has gained 18% during May, positioning it for its strongest monthly showing since 2023.

Key Highlights

• Ondas (ONDS) announced a definitive agreement to purchase 100% of Omnisys, an Israeli firm specializing in AI-driven Battle Resource Optimization (BRO) software.
• The BRO platform boasts a 25-year operational history and has been validated in large-scale combat environments.
• This strategic move will introduce a high-margin software component to Ondas’ portfolio while strengthening its footprint in international defense sectors.
• Omnisys’ BRO technology will merge with Ondas’ current infrastructure to establish a comprehensive “sense-decide-orchestrate-act” operational model, working in tandem with the SkyWeaver AI system.
• Shares of ONDS traded 1.5% higher in premarket hours after the deal was disclosed.

Ondas (ONDS) announced its intention to acquire Omnisys, an Israeli developer of AI-enhanced battlefield management software, marking a significant expansion into software-centric defense solutions.

Shares of ONDS increased 1.5% during premarket trading following the announcement.

Ondas Holdings Inc., ONDS

Omnisys develops Battle Resource Optimization (BRO) software, a platform designed to assist military forces in mission planning, resource distribution, and executing time-sensitive decisions across various combat theaters simultaneously.

With a quarter-century of operational experience, Omnisys claims its BRO platform has been successfully implemented in sophisticated defense scenarios worldwide, including intricate multi-tier air defense operations.

Eric Brock, CEO of Ondas, characterized BRO as a “proven, battle-tested software platform” that adds substantial value by enhancing both mission planning and live operational execution in multi-domain settings.

The transaction involves acquiring complete ownership of Omnisys. Ondas submitted a Form 8-K filing to the SEC detailing the acquisition agreement’s specifics.

Integration with Current Ondas Technology

The BRO platform will complement Ondas’ existing SkyWeaver AI technology, functioning as an orchestration and optimization component.

When combined, these platforms are designed to deliver what Ondas describes as a “sense-decide-orchestrate-act” operational framework — supporting intelligence, surveillance, reconnaissance, strike missions, electronic warfare, counter-unmanned aircraft systems, and air defense capabilities.

Ofer Yarden, CEO of Omnisys, expressed enthusiasm about leveraging Ondas’ worldwide presence to introduce BRO technology into global defense markets outside of Israel.

The vendor-neutral architecture of BRO enables compatibility with diverse defense systems and infrastructure, independent of specific hardware dependencies.

Strategic Rationale Behind the Acquisition

Ondas has been systematically expanding its autonomous systems capabilities, incorporating ISR platforms, counter-UAS technologies, and comprehensive defense solutions.

Incorporating a revenue-generating, software-centered business with attractive profit margins aligns perfectly with this strategic direction.

According to Ondas, BRO will function as a “core orchestration layer” throughout its expanding product lineup — integrating sensors, platforms, and effectors into a unified operational ecosystem.

The system employs AI algorithms and advanced operations research techniques to produce real-time tactical options throughout the entire mission spectrum, from initial planning stages to post-operation assessment.

Oshri Lugassy, Co-CEO of Ondas Autonomous Systems, emphasized that BRO facilitates “true closed-loop operations” — an architecture where threat identification, decision processes, and responsive actions occur within a single integrated network.

Ondas further noted that this acquisition reinforces its expansion into American and allied defense markets while fast-tracking its transition toward fully integrated, software-defined defense ecosystems.

KB Financial Group, the parent company of South Korea’s largest bank, KB Kookmin, completed a stablecoin pilot for offline payments and cross-border remittances through the Kaia blockchain.

KB tested the lifecycle of a South Korean won-denominated stablecoin, including issuance, merchant settlement and remittances, with Kaia, electronic payments company KG Inicis and fintech firm OpenAsset, local outlet Yonhap reported.

The stablecoin pilot adds to the growing list of legacy financial institutions in South Korea experimenting with stablecoins. In late April, one of the nation’s largest credit card providers, Shinhan Card, signed a memorandum of understanding with the Solana Foundation to test stablecoin payments.

KB Kookmin is South Korea’s largest bank with over 584.9 trillion won ($266.7 billion) in total assets, according to the bank’s factbook for the fourth quarter of 2025.

Source: Kaia

Stablecoin test reduced remittance fees by 87%

As part of KB Financial’s experiment, a won stablecoin was converted into a US dollar stablecoin and delivered to a bank account in Vietnam.

The full transfer was completed in under 3 minutes, with an 87% fee reduction compared to the same transaction executed through the SWIFT network, a Kaia spokesperson told Cointelegraph in an email.

The SWIFT network is the messaging network for international payments used by thousands of banks and financial institutions worldwide.

The offline payment test was executed through Seoul-based coffee franchise Hollys, enabling users to pay through QR codes, without needing to install a cryptocurrency wallet.

Related: Vietnam eyes Q3 launch for regulated crypto asset market: Report

KB plans stablecoin services launch after regulations take effect

KB is reportedly preparing to launch stablecoin services once digital asset regulations are established in the country.

But the country’s proposed Digital Asset Basic Act has repeatedly stalled due to disagreements between regulators over who should be allowed to issue stablecoins.

The Bank of Korea, the nation’s central bank, has argued that banks should retain majority ownership of stablecoin issuers, while the Financial Services Commission warned that strict limitations could slow innovation.

Formal deliberations are unlikely to resume before South Korea’s June local elections.

Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO

The blockchain bridge connecting the Verus and Ethereum networks has been exploited for over $11 million.

One of eight bridge hacks so far this year, this latest incident brings the running total of funds lost to almost $329 million.

DeFiLlama data shows Verus as the 58th largest blockchain by total-value-locked ($22 million); its website promises “security without the audits.”

In addition to the hack, Verus’ blockchain explorer shows block production stopping approximately 12 hours ago.

According to a screenshot posted by the Verus X account, the network halt is due to “most block-generating nodes taking themselves offline” following the attack.

Read more: DeFi projects lose $6M in fresh string of exploits this week

Blockchain security monitoring platform Blockaid, which flagged the loss, suspects that the root cause is similar to the 2022 hacks of the Wormhole and Nomad bridges.

The firm explains that three of the bridge’s verification steps worked correctly, but it failed to check that the parameters of the source chain transaction matched the payouts on Ethereum.

It estimates the vulnerability, which cost the attacker just $10 to exploit, is mitigated by 10 lines of code.

The hacker’s address on Ethereum received ETH, as well as tBTC and USDC, which were swapped to ETH.

Keep up to date on the day-to-day of crypto hacks with Protos’ new hack tracker, which has 79 entries since the beginning of 2026.

Read more: Crypto hackers snatch over $1B in 68 incidents this year

Troubled waters

Multi-million dollar bridge hacks were once the scourge of the crypto industry.

In 2022, a particularly bumper year, hacks of Qubit, Wormhole, Ronin, Harmony, Nomad and BNB bridges raked in a combined total of $1.9 billion. Of these, all but Ronin and Harmony were smart contract exploits.

In recent years, however, attackers have mostly moved onto new vectors to secure the biggest paydays.

Bridge exploits have been replaced by complex social engineering and supply-chain compromises, a speciality of the DPRK-linked Lazarus Group. Such schemes have been responsible for hefty losses from Bybit ($1.4 billion), and Drift Protocol ($280 million).

Crypto audit firm Peckshield estimates that the Versus incident brings the total lost to bridge hacks so far in 2026 to almost $329 million.

Read more: DeFi sector in $14B meltdown as $290M rsETH hack fallout burns Aave

The losses are dominated by a single incident, April’s $290 million rsETH hack, with fallout affecting the entire DeFi sector.

Other notable incidents this year include Hyperbridge’s $2.5 million loss, which came just days after joking about being hacked for April Fools’ Day, and Friday’s $10 million hack of THORChain, which has repeatedly faced criticism itself for inaction over its use to launder illicit funds.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

• Upbit listing sparked TRAC’s sharp liquidity-driven rally.
• OriginTrail (TRAC) broke above major EMAs with strong bullish momentum.
• The key support at $0.351 may decide the next price direction.

OriginTrail (TRAC) posted one of the strongest performances in the crypto market on May 18, sending the token sharply higher even as broader digital assets faced downward pressure.

TRAC surged by more than 75% within 24 hours, climbing to approximately $0.5986 after trading as low as $0.3228 during the same session.

The price surge pushed the token to its highest level in months and marked one of its most aggressive single-day rallies since previous bull market cycles.

Trading volume rose just as sharply, with 24-hour turnover exceeding $36 million as investors rushed to position ahead of the listing.

The sudden spike came after Upbit officially confirmed support for OriginTrail across three major trading pairs — KRW, BTC, and USDT — with trading scheduled to begin on May 18 at 16:00 KST.

Market Support OriginTrail(TRAC)

✅ Supported Markets: KRW, BTC, USDT Market
📅 Trading opens at: 2026-05-18 16:00 KST (estimated time)

🔗Discover more:https://t.co/Aw2JiroW6x#Upbit #TRAC@origin_trail pic.twitter.com/CJ4guNHReA

— Upbit Korea (@Official_Upbit) May 18, 2026

Upbit listing triggers major breakout

The announcement from Upbit Korea immediately changed TRAC’s liquidity profile.

South Korea remains one of the world’s most active crypto trading markets, and listings on top-tier exchanges such as Upbit often provide tokens with broader retail exposure, stronger fiat access, and deeper market participation.

This new accessibility appears to be the primary force behind TRAC’s explosive price movement.

Before the news, TRAC had been trading well below $0.32.

But after the news, the token broke out and is now positioned significantly above all major daily exponential moving averages, including the 10-day, 20-day, 50-day, 100-day, and 200-day EMAs.

This technical alignment signals a bullish trend across both short-term and long-term timeframes.

Technical structure points to elevated volatility

Although TRAC’s price action remains bullish, volatility remains exceptionally high.

The token’s 24-hour range stretched from $0.3228 to $0.6028, reflecting intense speculative participation.

Such large price expansions often create both breakout opportunities and rapid correction risks.

If buying pressure remains strong following the Upbit trading, the token could rise higher, while overbought conditions could trigger a classic sell-the-news scenario, where early buyers lock in gains and price retreats sharply.

OriginTrail (TRAC) price forecast

TRAC’s immediate outlook depends heavily on post-listing volume and whether new liquidity translates into sustained demand.

As long as the price remains above $0.351, analysts project that the bullish momentum may remain intact, with breakout continuation possible if bulls defend support.

A stronger upside scenario would, however, require TRAC to hold current gains and establish support above the $0.60 psychological region, which could open the path toward higher technical extensions.

But if TRAC loses $0.351 support, downside risks increase significantly, with the $0.337 region acting as the next important support level to watch.