Key Highlights
- BTC declined 2.1% to reach $75,633 while Brent crude oil jumped 7.1% to $126.41 per barrel, marking a four-year peak
- Military briefings regarding potential Iran operations fueled the oil rally and triggered risk-averse market behavior
- Alternative cryptocurrencies including Ether, XRP, Solana, and BNB experienced losses; Dogecoin emerged as the sole top-10 winner with a 3.8% gain
- Tech sector earnings created divergent market reactions, with Nasdaq 100 futures reversing early gains despite positive reports from Alphabet and Amazon; Meta shares declined 6%
- Market experts indicate Bitcoin requires Brent crude to fall beneath $100 and reduced Middle Eastern tensions to challenge the $80,000 level
Cryptocurrency markets experienced downward pressure Thursday as crude oil reached its highest price point in four years, fueled by emerging reports of possible U.S. military engagement with Iran.
Brent crude oil surged 7.1% to reach $126.41 per barrel following an Axios report indicating President Donald Trump will receive briefings on fresh military strategies concerning Iran. Additionally, sources suggest U.S. Central Command has requested hypersonic missile deployments to the Middle Eastern region.
The strategic Strait of Hormuz has remained essentially blocked since hostilities erupted in late February. This closure has severely restricted the transport of crude oil, natural gas, and oil products through this critical global shipping corridor.
Brent crude has now climbed more than 100% since the start of the year and continues a nine-consecutive-day rally, representing its longest winning streak since May 2022.
Bitcoin retreated 2.1% to $75,633 during Asian market sessions. The digital currency is down 3% for the week and remains approximately $50,000 beneath its record high of $126,000 established in October 2025.
During April, Bitcoin has remained confined within a $74,000 to $78,000 range, despite oil prices climbing from $98 to $126 per barrel.
Alternative Cryptocurrencies Experience Widespread Declines
Ether retreated 3.4% to $2,244 and has fallen 4.4% over the past week. XRP decreased 2.1% to $1.37. Solana declined 2.6% to $82.62, while BNB dropped 1.9% to $615.
Dogecoin stood as the only major cryptocurrency outside stablecoins to register gains, climbing 3.8% daily and 10.1% weekly to reach $0.10.
Fernando Lillo, director at cryptocurrency exchange Zoomex, indicated that Bitcoin surpassing $80,000 hinges on reducing the geopolitical risk premium. He emphasized that Brent crude falling below $100 per barrel would be necessary, noting the strong correlation between the two assets.
Lillo further described a potential scenario involving the Trump administration easing Iran-related restrictions, potentially positioning it as a diplomatic response to constructive Iranian actions, which could propel Bitcoin toward $85,000.
Technology Sector Earnings Create Market Divergence
U.S. equity futures showed mixed performance Thursday. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures retreated 0.2% and Dow futures declined 0.6%.
Meta shares dropped approximately 6% following disappointing capital expenditure guidance and modest user growth figures. Microsoft remained relatively unchanged despite surpassing revenue and earnings projections.
Alphabet climbed 6% after delivering robust revenue performance and impressive Google Cloud expansion. Amazon advanced 4% driven by strong cloud computing segment results.
Apple is scheduled to release its quarterly earnings following Thursday’s market close.
The Federal Reserve maintained interest rates within the 3.5% to 3.75% range. Fed Chair Jerome Powell announced his intention to continue serving beyond his current term’s expiration, referencing ongoing legal challenges confronting the central bank.
