Key Highlights
- BTC declined 2.1% to reach $75,633 while Brent crude soared 7.1% to $126.41 per barrel, marking a four-year peak
- News of Trump receiving briefings on potential Iran military strikes fueled the oil rally and triggered risk-averse market behavior
- Leading altcoins including Ether, XRP, Solana, and BNB experienced losses; Dogecoin stood out with a 3.8% increase
- Nasdaq 100 futures surrendered a 1.1% gain despite positive earnings from Alphabet and Amazon; Meta shares dropped 6%
- Market experts indicate Bitcoin requires Brent crude to fall below $100 and reduced Middle East tensions to potentially surpass $80,000
Digital assets, including Bitcoin and prominent altcoins, experienced a Thursday selloff as crude oil prices reached their highest point in four years, fueled by emerging reports regarding possible U.S. military engagement with Iran.
Brent crude surged 7.1% to reach $126.41 per barrel following an Axios report indicating President Donald Trump would receive briefings on fresh military strategies concerning Iran. Additionally, reports suggest U.S. Central Command has requested the deployment of hypersonic missiles to the Middle East region.
Since hostilities commenced in late February, the Strait of Hormuz has remained essentially shut down. This closure has severely restricted the transportation of crude oil, natural gas, and oil products through this critical global shipping corridor.
Brent crude has now surged over 100% year-to-date and continues a nine-day upward streak, representing its longest winning run since May 2022.
Bitcoin declined 2.1% to settle at $75,633 during Asian market hours. The leading cryptocurrency is down 3% for the week and remains $50,000 beneath its record high of $126,000 achieved in October 2025.
Throughout the month of April, Bitcoin has remained confined within a $74,000 to $78,000 trading range, despite oil prices climbing from $98 to $126 per barrel during the same period.
Cryptocurrency Market Sees Widespread Declines
Ether experienced a 3.4% decline to $2,244 and has fallen 4.4% over the weekly period. XRP decreased 2.1% to $1.37. Solana dropped 2.6% to $82.62, while BNB declined 1.9% to $615.
Dogecoin emerged as the sole top-10 token excluding 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’s ability to break through the $80,000 threshold hinges on the dissolution of the war risk premium. He emphasized that Brent crude would need to decline below $100 per barrel, noting a direct correlation between the two assets.
Lillo further described a potential scenario involving the Trump administration lifting the Iran blockade, positioning it as recognition of constructive Iranian actions, which could potentially propel Bitcoin toward $85,000.
Technology Sector Earnings Create Divergent Stock Performance
U.S. equity futures displayed mixed signals on Thursday. S&P 500 futures advanced 0.2%, whereas Nasdaq 100 futures declined 0.2% and Dow futures fell 0.6%.
Meta shares declined nearly 6% following the company’s announcement of capital spending below expectations and decelerating user growth. Microsoft remained relatively unchanged despite exceeding estimates for both revenue and earnings.
Alphabet surged 6% powered by robust revenue performance and Google Cloud expansion. Amazon climbed 4% supported by strong cloud computing metrics.
Apple is scheduled to announce earnings following Thursday’s market closure.
The Federal Reserve maintained interest rates within the 3.5% to 3.75% range. Fed Chair Jerome Powell announced his intention to remain in his position beyond his current term’s conclusion, referencing ongoing legal challenges confronting the central bank.
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